The price of second-hand housing rises again in August (14.8%) and reaches record highs

The price of second-hand housing in Spain registered a year-on-year increase of 14.8% during the month of August, reaching €2,498/m², according to the latest real estate price index. This figure also represents a rise of 4.5% over the last three months, 1.1% compared to the previous month, and the highest price of second-hand housing in Spain since beginning of records.

All regions record price increases in August

All Autonomous Communities show higher prices compared to the previous year. The Community of Madrid (23.3%) leads the increases, followed by the Region of Murcia (17.6%), Cantabria (17.6%), the Valencian Community (17.4%), Andalusia (15.9%), and the Canary Islands (14.8%). Below the national average are the increases in Asturias (14%), the Balearic Islands (12.3%), the Basque Country (11%), and Catalonia (9.7%).

The smallest rises were seen in Extremadura, where sellers’ expectations grew by 0.8%, Navarra (3%), La Rioja (3.8%), Galicia (3.9%), Castilla y León (3.9%), Aragón (4.2%), and Castilla-La Mancha (4.9%).

With €5,068/m², the Balearic Islands remain the most expensive region, followed by the Community of Madrid (€4,384/m²). Next are the Basque Country (€3,287/m²), the Canary Islands (€3,080/m²), and Catalonia (€2,665/m²). At the opposite end of the scale are Castilla-La Mancha (€986/m²), Extremadura (€989/m²), and Castilla y León (€1,244/m²), which are the most affordable regions.

The Balearic Islands reaffirm themselves as the most expensive province to buy a home

In 43 provinces, prices are higher than those recorded in August of last year. The largest increase took place in the Community of Madrid, where sellers’ expectations rose by 23.3%, followed by Valencia (21.6%), the Region of Murcia (17.6%), Cantabria (17.6%), Santa Cruz de Tenerife (16.2%), and Alicante (14.8%). Seven provinces experienced decreases in the price of second-hand housing, led by Ourense (-5.4%), Teruel (-1.5%), Jaén (-0.8%), and Ciudad Real (-0.5%).

The Balearic Islands reaffirm themselves as the most expensive province to purchase second-hand housing (€5,068/m²), ahead of the Community of Madrid (€4,384/m²). They are followed by Gipuzkoa (€4,007/m²), Málaga (€3,842/m²), Santa Cruz de Tenerife (€3,284/m²), Bizkaia (€3,163/m²), and Barcelona (€3,023/m²).

Ciudad Real is the most affordable province with a price of €743 per square meter, followed by Jaén (€833/m²) and Cuenca (€847/m²).

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