Average Sales Prices in Spain Q3

Average prices across Spain have an annual increase of 4.2%, showing that prices are growing at a slower rate than in recent years.

average prices

Average prices across Spain averaged at €1,735 per square metre in September 2019, an annual increase of 4.2% compared to an annual increase 8.6% in September 2018, showing that prices are growing at a lower rate than in recent years. This may be due to a slight lessening of demand – the number of transactions fell from 161,374 in the second quarter of 2018 to 150,152 in the second quarter of 2019, down by 7%, according to the Spanish Ministry of Development (Fomento).

However, prices across Spain have increased 13.6% since September 2014 and are still 13.3% below the peak of 2007, when prices averaged at €2,022 in September 2007, showing significant room for growth. The latest forecast from Standard & Poor is that demand for Spanish property will continue to be strong in the short-term.

Average Sales Prices in Barcelona

For the second consecutive quarter average property prices in Barcelona city have shown slight year-on-year decreases. Prices averaged at €4,205 per square metre in September 2019, registering an annual decrease of just under 2%. Although average prices in the key districts of Barcelona Old Town, Eixample, Gràcia and Sant Martí all showed annual decreases, they have registered slight increases since August, ending September 2019 on €4,412 per square metre (0.1% increase), €4,785 per square metre (0.5% increase), €4,283 per square metre (1.2% increase) and €3,847 per square metre (1.6% increase) respectively. The slowing down of prices and the potential start of steady increases currently makes Barcelona property an attractive proposition for investors. (Idealista)

Average Sales Prices in Madrid

Average property prices in Madrid city showed an annual increase of 3.3% in September 2019, ending the month on €3,770 per square metre. Average prices in the Centro district (including the neighbourhoods of Sol, Justicia and Cortes) and the sought-after district of Salamanca also rose, by 0.4% (€4,994 per square metre) and 2.4% (€5,788 per square metre) respectively. Prices in the desirable Chamberí district remained steady with no annual change, averaging at €5,331 per square metre. Average prices in the up-and-coming district of Tetuán showed one of the more significant increases (4.8%), ending the second quarter on €3,716 per square metre. (Idealista)

Average Sales Prices in Valencia

Average property prices in Valencia city showed an annual increase of 6% in September 2019, ending the month on €1,767 per square metre. Average prices in the Old Town and L’Eixample also increased, ending the month on €2,781 per square metre (2.2% annual increase) and €3,000 per square metre (4.7% annual increase) respectively. The district of Jesús showed one of the most significant increases, with prices averaging €1,367 per square metre (13.3% annual increase) in September 2019. Prices in the desirable La Patacona area averaged at €3,229 per square metre, registering an annual increase of 7.5%. (Idealista)

Average Sales Prices in Sitges

Average property prices in Sitges showed a slight annual increase in September 2019, of 0.4%, ending the month on €3,741 per square metre. Average prices in the neighbouring area of Castelldefels also showed an increase, of 1.5%, ending the month on €3,439 per square metre. However, average prices in another neighbouring area, Gavà, showed an annual decrease, of just under 1%, averaging €3,016 per square metre in September 2019. (Idealista)

Average Sales Prices in Maresme

Average property prices in the Maresme region showed an annual increase of 3.6% in June 2019, ending the month on €2,083 per square metre. Average prices in the sought-after town of Alella showed a particularly significant increase, ending June 2019 on €3,030 per square metre (21.2% annual increase). Prices in Premià de Dalt and Cabrils also increased, ending the month on €2,889 per square metre (32.3% increase) and €2,209 (3.4% annual increase) respectively. (Generalitat de Catalunya)

Average Sales Prices in Costa Brava & Girona

Average property prices in Girona Province showed an annual increase of 2.8% in September 2019, ending the month on €2,020 per square metre. In Girona city itself average prices continued to rise, registering a huge increase, of 21.1%, and ending the month on €2,248 per square metre. Prices also went up in Sant Feliu de Guíxols and Platja d’Aro, by 5.3% (€2,198 per square metre) and 1.2% (€2,874 per square metre) respectively. However, prices in Begur showed a decrease, of 4.2%, averaging at €2,744 per square metre. (Idealista)

Average Sales Prices in Ibiza

Average property prices across the Balearic Islands showed an annual increase of 10.6% in September 2019, ending the month on €3,064 per square metre. Average prices in Ibiza Town and Sant Josep de sa Talaia showed slight increases ending the month on €5,169 per square metre (0.8% annual increase) and €5,108 per square metre (0.3% annual increase) respectively. Prices in Santa Eulària des Riu, however, showed a decrease, averaging €4,818 per square metre (1.3% decrease) in September 2019. (Idealista)

Average Sales Prices in Marbella-Costa del Sol

Average property prices in Málaga Province showed a significant increase of 7.3% in September 2019, ending the month on €2,152 per square metre. Average prices in Málaga city itself also increased, ending the month on €2,050 per square metre (4% annual increase) as did those in Estepona and Marbella, where prices in September 2019 averaged at €2,166 per square metre (8.5% annual increase) and €2,897 per square metre (7.8% annual increase) respectively. (Idealista)

View Lucas Fox Spanish Real Estate Market Analysis Q1 & Q2 2019

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