In 2018, listing prices for residential housing in Spain have increased sharply, which confirms our forecasts before entering 2018. We have previously reported on how property sales have marked new records.
The listing prices of approximately 400,000 published advertisements increased by 8.4% in the last 12 months to €1,720 per sqm. Las Palmas de Gran Canaria (21.1%) and Madrid (17%) are the provincial capitals where the listing prices have increased the most. Tarragona, on the other hand, registered the largest decrease (-10.9%).
13 regions have seen their listing prices for residential housing increase during the year. The largest increase was recorded in the Madrid region, where the owners now are asking for 20.2% more for their homes than a year ago. This was followed by increases in the Canary Islands (19.9%), the Balearic Islands (15.8%), La Rioja (11.4%) and Catalonia (10.7%). On the opposite side, we find the regions Extremadura (-1.4%), Cantabria (-1.2%), Asturias (-0.5%) and Murcia (-0.4%).
The Madrid region is the most expensive one with 3 059 euro per sqm. It is followed by the Balearic Islands (2,863 EUR / sqm), Euskadi (2,562 EUR / sqm) and Catalonia (2,304 EUR / sqm). On the opposite side of the table we find Castilla-La Mancha (914 euro / sqm), Extremadura (919 euro / sqm) and Murcia (1,015 euro / sqm).
In terms of housing prices in Spain’s largest cities, Las Palmas de Gran Canaria has increased the most with its 21.1%. This is followed by the increases in Madrid (17%), Valencia (16.4%) and Malaga (15.3%). In Barcelona, the listing prices increased by only 1.4% and Tarragona is the city where they fell the most (-10.9%), followed by Oviedo (-0.7%) and Cáceres (-0.4%).
San Sebastián is the most expensive Spanish city (4,403 euros / sqm), followed by Barcelona (4,344 euros / sqm) and Madrid (3,844 euros / sqm). We find the lowest listing price per square meter in the city of Ávila, with a price of 952 euros / sqm, followed by Lleida (957 euros / sqm).