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

The budget for buying a second-hand property in the city of Madrid has fallen by -15% and -22% in the city of Barcelona compared to the previous year. However, in both cities there are types of homes for which buyers are willing to pay more.

This is evident from the study "Analysis of the demand for housing in Spain", based on the average price on Fotocasa in the municipalities of the provinces of Madrid and Barcelona for the last three years.

However, the report also highlights that the budget has increased for the rest of the municipalities in the provinces of Madrid and Barcelona, specifically it has increased by 12.8% for the towns in Madrid and 4% in the case of the provinces of Barcelona.

"This cut in the budget of the two most demanded cities with the highest prices in Spain indicates that citizens are perceiving the stabilisation trend in housing prices; however, the increase in the budget in the rest of the municipalities could indicate that Spaniards are opting to buy homes on the outskirts of the big cities", explains María Matos, Director of Studies and Spokesperson for Fotocasa.

The average budget for the purchase of a home in Madrid stands at 356,432 euros, while the average budget in the rest of the municipalities in the province in July 2021 is 235,886 euros.

The average amount for the purchase of a home in Barcelona city is 391,726 euros, while in the rest of the municipalities in the province as of July 2021 it is 225,294 euros.

The property for which the citizens of Madrid are most willing to pay is a house or villa, with an average budget of 605,015 euros. However, this item has been cut by 26.4% compared to the previous year.

Penthouses are in second place with 523,747 euros (up 4.7%), followed by rustic properties with 474,375 euros (-46.7%), semi-detached houses with 462,844 euros (-7.8%), duplexes with 407,761 euros (30.1%) and flats with 281,160 euros (-2.7%).

The lowest budgets of buyers in Madrid are for studios with 144,523 euros (-3.8%), followed by lofts with 199,485 euros (-1.9%), ground floor with 229,580 euros (-22.5%) and flats with 235,829 euros (8.7%).

In Barcelona, the average budget for purchasing a property is 9.9% higher on average than in Madrid and preferences are different.

Rural properties are the type of real estate to which citizens of Barcelona allocate the largest sum of money – 772,484 euros (4.7% more than a year ago).

Villas are in second place with 646,064 euros (-5.3% compared to the previous year), followed by terraced houses – 517,696 euros (-7.8%), duplexes – 423,377 euros (-4.7%), penthouses – 398,112 euros (8.7%) and flats – 302,957 euros (-67%).

The lowest budget in Barcelona is also for studios – 122,444 euros (14.1% more than a year ago), followed by ground floors with 214,723 euros (-1.5%), lofts with 237,203 euros (12.1%) and flats with 282,198 euros (-62.2%).