The price gap in real estate

Today, the gap between the most expensive and the cheapest house in Spain is €15, 675; the gap in property price continues to increase by 5.2 per cent each year.

“The most expensive housing is becoming even more expensive, and the cheapest is becoming even cheaper,” said the technical director of Tecnitasa, Fernando Garcia Marcos. 

Spain’s most expensive home was discovered in the country’s capital, Madrid, Recoletos, worth €16, 000 per metre squared.

Compared with such a grand amount, the cheapest home is in Talavera de la Reina in Toledo, where a square metre equals just €325. 

This positions the price gap at €15, 675. One of the reasons for such an extreme contrast is the position of the house, as real estate authorities stated Madrid is one of the most costly property markets. 

Alongside Madrid are Barcelona, Palma, Malaga and San Sebastian, all of which have surpassed a €7,000 barrier in the price per metre square. 

Strikingly, Tecnitasa´s director emphasized that the owners of Spain’s most expensive, and especially modern homes are “in many cases foreigners, of very high purchasing power.”