The average price of second-hand housing grows to 1,936 euro per square metre

The price of second-hand housing in Spain experienced a quarterly increase of 1.2% in the second quarter of 2022 and a year-on-year increase of 2.8%, placing the average price at 1,936 euro per square metre, according to data from the Index Fotocasa Real Estate.

“The quarterly increase (1.2%) is the first rise after the fall produced in the same period of 2021,” the real estate portal pointed out in its report.

“The rise in interest rates in July will most likely curb the demand for housing by making mortgage credit more expensive, and with a more moderate demand, prices may stabilise in the medium term,” explained Director of Studies and spokesperson for Fotocasa, Maria Matos.

As for the autonomous communities with a quarterly increase, 14 of them rose and the Balearic Islands once again headed the ranking with 5.4%, the largest quarterly increase detected among all the Spanish communities in the last twelve months.

They are followed by Madrid (2.3%), Castilla-La Mancha (2.0%), Region of Murcia (1.9%), Canary Islands (1.5%), Comunitat Valenciana (1.5%), Extremadura (1.0%), Aragon (0.8%), Cantabria (0.8%), Asturias (0.6%), Catalonia (0.5%), Andalusia (0.5%), Navarra (0 .5%) and the Basque Country (0.3%).

However, the average prices of homes in Castilla y León (-1.1%), La Rioja (-0.8%) and Galicia (-0.6%), are cheaper in June than three months ago (March 2022).

Regarding the ranking of prices by communities, Madrid occupies the first place, paying about 3,289 euro per square meter. It is followed by the communities of the Balearic Islands (3,070 euro/m2), the Basque Country (2,893 euro/m2), Catalonia (2,590 euro/m2), the Canary Islands (1,800 euro/m2), Cantabria (1,761 euro/m2), Andalusia (1,727 euro /m2), Navarra (1,682 euro/m2), Aragon (1,611 euro/m2), Galicia (1,599 euro/m2), Asturias (1,585 euro/m2), Valencian Community (1,472 euro/m2), La Rioja (1,437 euro /m2), Castilla y León (1,410 euro/m2), Extremadura (1,148 euro/m2), Region of Murcia (1,144 euro/m2) and Castilla-La Mancha (1,120 euro/m2).