In January, the Spanish second-hand housing market witnessed a modest increase in prices, marking a 0.6% rise from December.
However, the year-on-year analysis presents a more significant growth of 7.5%, setting the average price at €2,215 per square metre, as reported by the Fotocasa Real Estate Index. This annual growth rate represents a slight deceleration compared to January 2023’s increase of 9%.
Key Highlights:
- Modest Monthly Increase: January saw a 0.6% price increase compared to December.
- Annual Growth Rate: A 7.5% year-on-year increase, albeit lower than the 9% growth recorded in January 2023.
- Local Variances: A detailed look at 655 municipalities revealed:
- Prices rose in 84% of municipalities on a year-on-year basis.
- In 53 municipalities, prices surged by more than 20%, with 8 witnessing growth above 40%. Notably, Torre-Pacheco saw a remarkable 57.3% increase, followed by San Miguel de Salinas at 50.2%.
- Provincial Perspectives: Among the 50 provinces analysed, 88% experienced a year-on-year price rise in January. Alicante and Murcia stood out with increases of 12.6% and 11.1%, respectively.
The mixed picture of Spain’s second-hand housing market underscores the nuanced nature of regional market dynamics.
While the overall trend indicates growth, the variance at local and provincial levels highlights areas of significant investment potential.
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