Second hand property prices increasing in Spain
In the second quarter of 2017 the prices of second hand properties in Spain have increased by 1,5% compared to last year. The prices have risen the most in the Balearics (16,6%), Catalonia (9,1%) and Canaries (8%). In Murcia the increase has been 1,6% and in Valencia 4,6%. There has also been a moderate rise in prices in Andalusia (3%) and Madrid (2,7%). In some areas the prices have fallen – with the most decrease in Navarra (-5,1%).
The most expensive properties can be found in the Basque Country in the provinces of Gipuzkoa and Biscay (2 710 €/ m2 ja 2.567 €/m2), followed by the provinces of Madrid (2.413 €/m2) and Barcelona (2.340 €/m2). The most affordable properties are located in Toledo (815 €/m2), Ávila (828 €/m2) and Ciudad Real (865 €/m2).
The property prices vary depending on the area, and the prices continue to normalize at different speeds. Despite the increase in prices in certain areas, the prices have not reached as high levels as a decade ago, and so far a new price bubble is not expected.