How much does it cost to buy an apartment, penthouse or villa in Madrid and Barcelona?

How much does it cost to buy an apartment, penthouse or villa in Madrid and Barcelona?

The budget for buying secondary housing in Madrid has decreased by 15%, while in Barcelona it has decreased by 22% compared to the previous year. However, both cities have types of housing that buyers are willing to pay more for.

This follows from the study “Analysis of Housing Demand in Spain”, based on average prices from the Fotocasa portal in the municipalities of Madrid and Barcelona provinces over the last three years.

At the same time, the report emphasizes that the budget has grown in other municipalities of Madrid and Barcelona provinces: by 12.8% for Madrid cities and by 4% for Barcelona province.

“The budget reduction in the two most sought-after cities with the highest prices in Spain indicates that citizens are sensing a trend toward housing price stabilization. However, the budget growth in other municipalities may indicate that Spaniards prefer to buy housing on the outskirts of major cities,” explains María Matos, Research Director and representative of Fotocasa.

The average budget for buying housing in Madrid is €356,432, while the average budget in other municipalities of the province as of July 2021 is €235,886.

The average amount for buying housing in Barcelona is €391,726, while in other municipalities of the province as of July 2021 it is €225,294.

What is the budget of Madrid residents?

The type of property that Madrid residents are willing to pay the most for is a house or villa, with an average budget of €605,015. However, this figure decreased by 26.4% compared to the previous year.

In second place are penthouses with a budget of €523,747 (4.7% growth), followed by country properties at €474,375 (−46.7%), townhouses at €462,844 (−7.8%), duplexes at €407,761 (30.1% growth) and apartments at €281,160 (−2.7%).

The lowest buyer budgets in Madrid are for studios at €144,523 (−3.8%), lofts at €199,485 (−1.9%), ground floor apartments at €229,580 (−22.5%) and flats at €235,829 (8.7% growth).

How much are they willing to pay in Barcelona?

In Barcelona, the average budget for buying real estate is on average 9.9% higher than in Madrid, and preferences differ.

Country properties are the type of properties that Barcelona residents allocate the largest amount for: €772,484 (4.7% growth per year).

In second place are villas with a budget of €646,064 (−5.3% compared to the previous year), followed by townhouses at €517,696 (−7.8%), duplexes at €423,377 (−4.7%), penthouses at €398,112 (8.7% growth) and apartments at €302,957 (−67%).

The lowest budget in Barcelona is also for studios at €122,444 (14.1% growth per year), followed by ground floor apartments at €214,723 (−1.5%), lofts at €237,203 (12.1% growth) and flats at €282,198 (−62.2%).

Average property cost depending on housing type in Madrid and Barcelona