This is clear from the analysis published by Fotocasa, which highlights, however, that prices are still 11% below what they were 15 years ago (2009).
“Over time, it is common for all goods and services to increase in price. However, housing does so at a very rapid pace that conditions and limits access to the home. In recent years, the increase in prices has been very significant result of the existing imbalance between supply and demand, which is getting bigger every time,” explains María Matos, Director of Studies and Spokesperson for Fotocasa.
Analyzing the prices paid for a home for sale 10 years ago (in 2014), the average price per square meter of housing has increased by 29% in Spain (from 1,726 euros/m2 in February 2014, to 2,234 euros /m2 in February 2024). Thus, a decade ago Spaniards had to pay an average of 138,000 euros to purchase an 80 m2 home, compared to the 178,700 euros it costs on average in Spain in February 2024 (a difference of 40,700 euros).
The autonomous communities that have seen the most increase in the price of housing for sale in the last 10 years have been the Balearic Islands, the Canary Islands and the Community of Madrid. Specifically, the Balearic Islands is the region in which it has become more expensive (109%), followed by the Canary Islands (78%) and the Community of Madrid (68%), Andalusia (39%), the Valencian Community (31%) and Catalonia (29%).
With increases below the average, La Rioja (19%), Navarra (13%), Murcia (7%), Galicia (5%), Aragón (5%), Basque Country (4%), Cantabria have been (3%), Castilla-La Mancha (1%).
On the other hand, there are three communities that have seen the price of housing for sale decrease since 2014. These are Asturias (-5%), Castilla y León (-2%) and Extremadura (-1%).
And for capital?
In two provincial capitals, increases of over 100% have been recorded. These are Palma de Mallorca (123%) and Málaga (107%) that present the largest increases in the price of second-hand housing. In third position is Madrid, which has increased the price by 82% compared to 2014, followed by the city of Valencia (66%) and Las Palmas de Gran Canaria (55%).
And following the ranking of the provincial capitals that have increased the most in the last ten years, in sixth position is Alicante (51%), San Sebastián (46%), Girona (46%), Santa Cruz de Tenerife (45% ) and Barcelona (43%).
At the other extreme, there are eight provincial capitals that, when compared to the price of 10 years ago, show falls in housing prices. The most pronounced drop compared to 2014 is presented by Zamora, which falls by 17%, followed by Palencia (-11%), Jaén (-11%), Ciudad Real (-6%), Cáceres (-3%), Lugo ( -2%), Ourense (-2%) and Salamanca (-1%).
