1. Analysis of the performance during the September quarter
Let’s first start with the national average: price is 1590 €/m²end of September 2018: Spanish real estate prices rose
by +3.1% during the last year from 1540€/m²
by +0.1% during the last quarter
As you can see the real estate prices increase in Spain is accelerating. On the other side, demand is really strong: we have the highest transaction number for 10 years: 558.700 properties were sold during the last year to June 2018, a 12% year on year growth.
The lowest price reached since the financial crisis of 2007 is 1456€/m² in the third quarter of 2014 while the highest is 2101.4 €/m² in the first quarter of 2008.
What are the regions with the biggest increases and decreases?
The top performers for the September 2018 quarter are:
Santa Cruz of Tenerife +2.9%
Real city +2.3%
Rioja (La) +2.3%
Balearic Islands +2.2%
Canary Islands +1.9%
As a reminder, the top performers for the June 2018 quarter were:
Navarra (Autonomous Community) +3.2%
Rioja (La) +3%
Madrid (Community) +2.8%
The worst performers for the September 2018 quarter are:
Murcia (Region) -2.3%
Coruña (A) -2.2%
The worst performers for the June 2018 quarter were:
Here is the Alphabetical ranking of all the regions real estate price evolution on the last quarter:
2. Yearly real estate price evolution in Spain up to September 2018
Have a look at the Spanish Heat map made with the yearly real estate price evolution
(horizontal if you are a mobile user,… we are working on this…)
The strongest price increase for the year are:
Madrid (Community) +8.3%
Rioja (La) +6%
Santa Cruz of Tenerife +5.9%
Balearic Islands +5.2%
Canary Islands +4.7%
while the top performers up to June were:
Madrid (Community) +9.6%
Palmas (Las) +5.4%
Balearic Islands +5%
Valencia / València +4.5%
The worst performers for the year up to September 2018 are:
Coruña (A) -2.8%
Remember, those were the underperformers up to June 2018
Real city -2.7%
Castellón / Castelló -2.4%
Here is the Alphabetical ranking of all the regions real estate price evolution for the last year:
3. What are the most expensive real estate markets in Spain end September 2018?
Gipuzkoa real estate prices: 2.609 €/m² vs 2.685 last quarter
The Madrid Community: 2.497 €/m² vs 2.481 last quarter
The Basque Country: 2.339 €/m² vs 2.381 last quarter
Barcelona: 2.319 €/m² vs 2.296 last quarter
Bizkaia: 2.294 €/m² vs 2.323 last quarter
The Balearic Islands: 2.263 €/m² vs 2.214 last quarter
Catalonia: 1.961 €/m² vs 1.949 last quarter
with the National Spanish Average: 1.590 €/m²
4. What are the cheapest real estate markets in Spain end September 2018?
Basin, Real city and Teruel have real estate prices under 800 €/m² last quarter
Jaén, Toledo, Cáceres, Ávila, Estremadura, Zamora, Lion, Badajoz, Castilla-La Mancha, Lugo have real estate prices under900 €/m² last quarter
Albacete, Ourense, Segovia, Murcia (Region), Palencia have real estate prices under 1.000 €/m² last quarter
with the National Spanish Average: 1.590 €/m²
5. What are the most active property markets in Spain, last 12 months, up to the 30th of September 2018?
Murcia (Región de)
Ceuta y Melilla
Asturias (Principado de)
Interesting to note, 3 cities/regions have negative growth rate: Las Palmas, The Balearic Islands and Gipuzkoa.
6. Real estate price evolution for all the 18 Spanish regions since 2005 (€/m²)
2014 is the year we reached the bottom for Spanish property prices.
As you can see on this chart, Spanish real estate prices (thick orange line) got its lowest price point in early 2014 since the crisis of 2008. Since early 2014, real estate prices are rising and reached 1.590€/m²end of September 2018. If you look at prices in general, yes we can talk again about growth but if you compare those to the levels of 2008 or to European real estate prices, you can still find bargains. Furthermore, real estate prices remain lower than the prices of early 2005 at 1680€ per square meter.
The 3 winning regions since 2014
The market in Spain is divided into two groups since 2014: the regions with rising prices: Barcelona, Madrid and the Balearic Islands and all the other regions where the prices have stabilized or are increasing modestly.
Is it easy to buy in Spain?
It is really easy to buy a property in Spain but:
because you are not on the ground,
because you don’t know the market and
because you need to check your property in order to avoid any nasty surprise, we advise you not to do it alone.
We are foreigners and Spanish residents who bought properties in Spain and we developed a network of reliable partners in order to assist foreigners in their purchases of a Spanish property.
Don’t forget, if you are buying in Spain as a foreigner, you could have two different motives:
or the two combined. Depending on what is (are) your own motivation (s) your criteria will be different.
7. Region per Region price evolution from 1995 up to the end of September 2018
Real estate prices inBarcelona: €2.319 /m², +6.5% vs last year
Transactions for the real estate market inBarcelona are growing slightly: 59.751 +1,9%
Prices in Barcelona are on average 40% higher than the national average and rebounded about 15% of the lowest levels reached since the crisis of 2008. If you take into account the number of transactions, Madrid and Barcelona are the two strongest markets.
Real estate prices inMadrid: €2.497 /m², +8.3% vs last year
Transactions for Madrid are strong: 83.966 +8,2%
Prices in Madrid are leading the charge and are 45% higher than the national average. They rebounded by about 13% from the lowest levels seen since 2008. If you take into account the number of transactions, Madrid and Barcelona are the two strongest markets.
Real estate prices inSanta Cruz Tenerife: €1.397/m², +5.9% vs last year
Transactions for Santa Cruz de Tenerife are strong: 12.499 +3,9%
Prices in Tenerife rebounded by more than 10% since the bottom of the period between now and 2018 but remain on average, 15% lower than the national average. The weather is more stable during the winter months but yes, your flight is a little bit longer.