Used housing lowers its price by 0.2% during the first three months of 2022

The prices of used housing in Spain have experienced a small drop in the first quarter of 2022. According to the latest idealista price index, the value of the average square meter has fallen to 1,825 euros, but if we compare with the data from the 2021, prices have risen by 2.3%.

Francisco Iñareta, spokesman for idealista, states that "prices have managed to remain stable in the first quarter of 2022, despite the fact that the number of purchases and sales has reached 2008 levels. Even so, the areas where demand is more activity (mainly large markets and coastal areas) registered more significant price increases, while a large part of the rest of the markets are still experiencing decreases, as they are not showing a reduction in supply.Although the current situation is anomalous and greatly complicates making forecasts, It is possible that this trend will continue due to the high inflation scenario in which we are installed, which may subtract replacement operations, but encourage investment in housing as a refuge value".

Up to 19 capitals have seen their prices reduced in the first quarter, but none is part of the group of large housing markets. Palencia registers the greatest decrease with -2.6%, followed by Santander (-2.2%), Zamora (-2.1%), Teruel (-1.9%) Almería (-1.6%) , León and San Sebastián (-1.5% both capitals).

The most pronounced rise was made by Soria (4.6%). Completing the top positions are Valencia (4.5%), Palma (3.8%), Toledo (3.2%),

Segovia (2.7%), Tarragona (2.6%), Melilla (2.3%) and Castellón (2.2%). Other increases have occurred in large real estate markets such as Madrid (2.2%), Malaga (1.8%), Seville (1.8%), Bilbao (1.4%) and Barcelona (1%).

The most expensive capital is San Sebastián, with a square meter of 4,896 euros. The top 5 is also made up of Barcelona (3,972 euros/m2), Madrid (3,782 euros/m2), Palma (3,217 euros/m2) and Bilbao (3,089 euros/m2). On the other side of the ranking is Lleida, whose price per square meter (1,053 euros) is the cheapest.

10 CCAA have lowered their prices between January and March, the most notable has happened in Navarra (-1.4%). The remaining nine are: Galicia (-1%) and Castilla y León (-1%). It was followed by the decreases in the Basque Country (-0.8%), Cantabria (-0.7%), Aragon and Andalusia (both -0.5%), Extremadura (-0.4%), Catalonia (-0, 2%) and Castilla-La Mancha (-0.1%).

The largest increases are headed by Madrid (2%), tied with the Valencian Community (2%) and followed by the Canary Islands (1.3%).

The most expensive Autonomous Community is the Balearic Islands (3,368 euros/m2), the highest price per square meter since idealista has data. Madrid (2,996 euros/m2), the Basque Country (2,685 euros/m2) and Catalonia (2,309 euros/m2) also occupy the highest positions in the table.

In the lower part of the ranking Castilla La Mancha (878 euros/m2), Extremadura (941 euros/m2) and Murcia (1,075 euros/m2) are consolidated as the cheapest Autonomous Communities.

During the winter, 27 provinces have registered price drops. Badajoz (-2%), Palencia (-1.9%), Huesca (-1.9%), Salamanca (-1.8%) and Granada (-1.7%) are the 5 most pronounced. On the other hand, Soria (2.4%) has been the province that has increased its prices the most. Other notable price rises were those of Melilla (2.3%), Alicante (2.3%), Madrid (2%), Málaga (1.8%) and Cáceres (1.8%). In Barcelona they have only risen 0.2%.

As in the CCAA, the Balearic Islands is also the province with the most expensive square meter with 3,368 euros. The first five positions are completed by Guipúzcoa (3,170 euros/m2), Madrid (2,996 euros/m2), Barcelona (2,700 euros/m2) and Vizcaya (2,655 euros/m2). On the contrary, Ciudad Real is the cheapest (765 euros/m2) together with Cuenca (796 euros/m2) and Toledo (821 euros/m2).

More information at idealista/news.