Spanish housing prices soar: May sees record-breaking surge

Spanish housing prices soar: May sees record-breaking surge.

Spanish housing prices soar: May sees record-breaking surge. Image: gzabala /

In May, the price of used housing in Spain increased by 1 per cent, reaching €2,120 per square metre, a record high surpassing the previous peak in June 2007.

This represents a quarterly increase of 3.1 per cent and a 7.3 per cent rise compared to May of last year, according to idealista.

All Spanish Autonomous Communities reported higher prices than the previous month, with the Balearic Islands leading at 1.6 per cent, followed by Navarra at 1.4 per cent, and Andalusia at 1.2 per cent.

The most expensive regions are the Balearic Islands (€4,322 per square metre), the Community of Madrid (€3,406), and Euskadi (€2,926).

The most affordable regions are Castilla-La Mancha (€936), Extremadura (€996), and Castilla y León (€1,189).

Price by Province

A total of 40 provinces saw price increases, with the largest in Soria at 3.8 per cent, followed by the Balearic Islands and Cáceres at 1.6 per cent.

The provinces with the largest decreases were Huesca (-1.8 per cent), León (-1 per cent), Jaén (-0.8 per cent), and Burgos (-0.6 per cent).

The most expensive provinces are the Balearic Islands (€4,322), Guipúzcoa (€3,605), and Madrid (€3,406).

The cheapest are Ciudad Real (€752), Jaén (€837), and Cuenca (€853).

Price by Capitals

In May, 44 capitals experienced price increases, with the largest in Soria at 5.1 per cent, followed by Málaga at 3 per cent, Palma at 2.9 per cent, and Lugo at 2.5 per cent.

Major markets saw increases in Alicante (1.8 per cent), Madrid (1.7 per cent), and Valencia (1.5 per cent).

Madrid’s price was €4,473 per square metre, and Barcelona’s was €4,417.

The most expensive capital is San Sebastián at €5,557 per square metre, while the cheapest is Zamora at €1,151.

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Anna Ellis

Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.