House prices in Spain rise by 0.84% during the Q3 of 2019

Moderate increase in house prices recorded during the third quarter of the year

The last quarter of 2019 has seen a moderate increase in property prices in Spain.

Prices remained at an average of €1,638.3 per m2, representing a quarterly increase in the IPVVR (from its Spanish “Prices Index of Repeatedly Sold Properties) of 0.84% and an interannual rate of 7.70%.

Price of property in Spain

(Q1 2004 –Q3 2019)

(Ministerio de Fomento data)

Nine Autonomous Communities recorded an increase in property prices during the summer. The Balearic Islands saw the largest increase, with owners asking for a 1.6% more for their homes than three months ago. Murcia was second with a 1.5% increase, Aragon third with 1.3% and the Valencian Community at 0.6%. The Balearic Islands remains the most expensive Spanish community at 3,064 euros/m2, followed by Madrid (2,794 euros/m2), Euskadi (2,555 euros/m2) and Catalunya (2,251 euros/m2). At the opposite end of the spectrum, the most affordable communities are Castilla La Mancha (875 euros/m2), Extremadura (904 euros/m2) and Murcia (1,042 euros/m2).

Prices in Costa Blanca for the 3rd quarter of the year

House prices in Costa Blanca remain stable at an average of €1524.43/m2 – not far from the 1558.6, €/ m2 of the previous quarter.

The most remarkable price increase was recorded in Santa Pola (Q1 2019 -1348.1 €/ m2, Q2 2019 – 1296.8 €/ m2 and Q3 – 1376.2 €/m2) while Jávea suffered the biggest drop in prices (Q1 2019 – € 1800.2/m2, Q2 2019 – €1922.7/m2 and Q3 2019 – € 1771.6/m2).

The other cities have hardly undergone any changes.

Costa Blanca Price – Peak & Trough

(Q1 2005 – Q3 2019)

(Ministerio de Fomento data)

Costa Blanca Property Price Evolution

(Q4 2006 – Q3 2019)

(Ministerio de Fomento data)

Costa Blanca  €/m2 Variations

(Until November 2019)

(data source: idealista.com)

Costa Cálida  €/m2 Variations

(Until November 2019)

(data source: idealista.com)

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