Housing Prices in Spanish Provincial Capitals — October 2021
Housing Prices in Spanish Provincial Capitals — October 2021
In Spain, the price of resale housing in the third quarter of 2021 showed quarterly growth of 0.4% and annual growth of 2.5%, with an average price of €1,892/m². However, price dynamics across the country were uneven. This is reflected in the Fotocasa Real Estate Index data, which also shows that the quarterly growth (0.4%) was the first after two years of decline.
Despite the average annual growth of 2.5%, Spanish provincial capitals showed divergent real estate market dynamics in September. Prices fell in 38% of cities. Annual decline ranged from -4.6% in Jaén to -0.2% in Burgos.
On the other hand, the highest growth was recorded in Lugo (8.1%), Pamplona (5.9%), Cuenca (5.8%), Castellón de la Plana (5.7%), Badajoz (5.4%), Girona (5.1%) and Zaragoza (5%).
The only provincial capital that exceeded the €5,000/m² mark was San Sebastián with €5,533/m². It is followed by Barcelona (€4,359/m²), Madrid (€3,894/m²), Bilbao (€3,376/m²) and Palma de Mallorca (€3,081/m²).
33 provincial capitals remained below Spain’s average price, which was €1,892/m² in September. The most affordable was Ávila at €1,140/m², followed by Lleida (€1,180/m²) and Huelva (€1,230/m²).
Prices by Autonomous Communities
Among autonomous communities with the highest annual growth, Aragón leads with 5.7%. It is followed by Catalonia (4.6%), Andalusia (4.4%), La Rioja (4.2%), Galicia (4.2%), Extremadura (4%) and Castile and León (2.6%).
Below average but with positive dynamics: Balearic Islands (2%), Madrid (1.9%), Castile-La Mancha (1.6%), Canary Islands (1.3%), Valencian Community (1.2%), Asturias (1%), Cantabria (0.9%) and Basque Country (0%).
Two autonomous communities showed decline: Navarre (-6.6%) and Murcia (-2.9%).
In terms of price levels among regions, Madrid leads as the only community to break the €3,000 barrier: €3,113 per square meter. It is followed by Basque Country (€2,880/m²), Balearic Islands (€2,849/m²) and Catalonia (€2,535/m²).
In 13 autonomous communities, the price per square meter did not exceed €2,000: Canary Islands (€1,783/m²), Cantabria (€1,749/m²), Andalusia (€1,700/m²), Galicia (€1,620/m²), Navarre (€1,607/m²), Aragón (€1,605/m²), Asturias (€1,581/m²), La Rioja (€1,446/m²), Castile and León (€1,438/m²), Valencian Community (€1,425/m²), Extremadura (€1,149/m²), Murcia (€1,118/m²) and Castile-La Mancha (€1,113/m²).