Property prices in Spain fell slightly in August
Second-hand house prices in Spain increased 0.7% year-on-year in August 2021. Compared to July, the price fell slightly with a -0.2% variation. This brings the price per square metre to 1,890 euros, according to data from fotocasa. This last value is the tenth (0.7%) year-on-year rise in house prices after 11 months of year-on-year drops in the chain (from December 2019 to October 2020).
“These figures are a sign that the price of homes for sale in Spain is on the verge of starting a cycle of moderation produced by a lull in activity in purchasing demand. We detect a slight rebound in the price increase this month, which can be explained by the end of the summer period in August. This is a moderate growth that will probably continue with a downward trend and will formalize stabilization in the coming months. We must remember that it is a change of course that was already detected at the end of 2019 after three years of uninterrupted increases in the price of housing,” said María Matos, Director of Studies for fotocasa.
Autonomous Communities
In Spain, 11 autonomous communities presented positive monthly data in August 2021. The increases correspond to: La Rioja (2.0%), Aragón (1.0%), Balearic Islands (0.9%), Cantabria (0.5%), Madrid (0.3%), Navarra (0.3%), Castilla y León (0.3%), Andalusia (0.2%), Extremadura (0.2%), Asturias (0.1%) and Valencian and (0.1%). On the other hand, the Communities with decreases are: Region of Murcia (-0.7%), Basque Country (-0.4%), Castilla-La Mancha (-0.4%), Canarias (-0.3%), Catalonia (-0.2%) and Galicia (-0.1%).
Regarding the ranking of Autonomous Communities with the most expensive second-hand housing prices in Spain, there are Madrid and the Basque Country, with prices of 3,128 euros/m² and 2,872 euros/m², respectively . They are followed by the Balearic Islands with 2,870 euros/m², Catalonia with 2,538 euros/m², the Canary Islands with 1,776 euros/m², Cantabria with 1,752 euros/m², Andalusia with 1,687 euros/m², Navarra with 1,624 euros/m², Galicia with 1,611 euros/m², Aragon with 1,606 euros/m², Asturias with 1,586 euros/m², La Rioja with 1,469 euros/m², Castilla y León with 1,444 euros/m², Valencian Community with 1,426 euros/m², Extremadura with 1,150 euros/m², Castilla- La Mancha with 1,120 euros/m² and Región de Murcia with 1,117 euros/m².
Provinces
In 62% of the 50 provinces analysed, the price increased in the month of August. The provinces with the most significant monthly increases in the ranking are: Huesca (3.0%), Soria (2.1%), La Rioja (2.0%), Ávila (1.6%), Cuenca (1.5 %), Guadalajara (1.0%), Tarragona (1.0%), Zaragoza (1.0%), Huelva (0.9%) and the Balearic Islands (0.9%). On the other hand, the most significant monthly decreases are: Seville (-1.6%), Gipuzkoa (-1.2%), Teruel (-1.1%), Zamora (-1.0%), Las Palmas (-0.8%), Murcia (-0.7%), Albacete (-0.6%), Cádiz (-0.6%), Castellón (-0.6%) and Granada (-0.4%).
Regarding prices, Gipuzkoa is the most expensive province with 3,157 euros/m², followed by Madrid (3,128 euros/m²) and Barcelona (2,972 euros/m²), among others. On the other hand, the province with the price per square meter below 1,000 euros is Ciudad Real with 980 euros/m².
