According to the annual report on the maximum and minimum prices of housing prepared by the independent valuation company Tecnitasa: the cities of Alicante, Elche and Castellón are among the Spanish towns where you can buy more affordable housing with prices between 400 and 450 euros per square meter.
In addition, the report indicates that the cheapest properties can be found in Talavera de la Reina (€400/m²), Elche and Jerez de la Frontera (€425/m²) or in Alicante (€440/m²) in Barrio Juan XXIII and the second sector, Castellón (€450/m²) in Barrio Guinea and Mestrets or Reus in the Ponent area for €480, always below €500/m².
Tecnitasa states in its study that “the real estate market has withstood the covid-19 pandemic well and that the ‘bump’ suffered has already been overcome”. Thus, in this edition, Madrid exceeds €11,000/m² for the first time, with a rise of 6% compared to the previous year, making Calle Serrano the most expensive in all of Spain.
It is followed by Barcelona, on Paseo de Gracia, with a value per square meter of €9,580 and an increase of just over 1%; and San Sebastián, on streets such as Hernani, Avenida Libertad, Boulevard or Plaza Guipúzcoa, where buying a home means paying 7,750 euros per square meter.
Two other cities that exceed €5,000/m²: Málaga, in the Centro area and La Malagueta, reach €5,500/m², with a rise of over 5%, which denotes the real estate recovery by increasing around €300 the price of the meter in these houses for more affluent pockets. Bilbao, in Plaza de Euskadi or Abandoibarra, maintains €5,400/m² compared to the previous edition.
They are followed by Santander, where in El Sardinero you can find homes for €4,980/m² with a rise of 1% compared to the previous year; Cádiz, which reaches 4,900 euros on the Paseo Marítimo; Valencia, which is close to €4,800/m² in Navarro Reverter, Colón or Paseo de la Ciudadela streets; or Marbella, which maintains €4,600 on the front line of Puerto Banús after a significant drop in 2020.
Regarding the capitals that last year were below 500 euros and that in this edition reach them are: Ávila, in the Plaza de San Francisco or Huesca, in the Perpetuo Socorro area, which increase their values by 7.5 % and 4% respectively, increasing the prices of its most humble areas.
According to the technical director of Tecnitasa, Fernando García Marcos, this report contains “concrete data, at the foot of the street with the maximum and minimum prices in those locations that reflect that the market has withstood the pandemic well and that moderate average increases are already taking place of 0.5 points in maximum prices and almost three times more (on average) in minimum prices”.
The cities that drop in price
Although there is moderate growth or slight price stability in many of the cities, there are seven in which, both in more expensive and cheaper areas, their prices have fallen compared to the previous year. These are: Segovia, Guadalajara, Granada, Albacete or Barakaldo, with a decrease between 2 and 6% both in the houses with the highest prices and in the most affordable ones.
The same happens in the Catalan capitals of Tarragona and Lleida. In Tarragona, prices fall by around 5% in its most expensive price areas such as the Exaimple area around the Rambla Nova and Plaza Imperial de Tarraco, and barely 1% in the most humble areas of Barris Maritims . On the other hand, Lleida has a fall of just under 2% in the Upper Zone and almost 7% in the Old Town where prices are more affordable.
In this regard, the president of Tecnitasa, José María Basáñez, has pointed out that “with few exceptions, it seems clear that this year 2022 housing prices are going to tend to increase since the demand for the purchase of housing, for any type of pocket, it’s solid.”
In addition, he added that “the real estate sector is going to be key in the recovery during 2022 and the number of transactions will depend on the evolution of the pandemic with respect to the labor market, the increase in interest rates and the improvement in the delivery of materials, in the supply chain, to the promotions already started”.
Alicante: rises above 7%
Stability in most prices is general, but there are cases where prices have risen more significantly, both in the most luxurious areas and in those with tighter budgets.
The increases occur more in the locations and housing areas with the minimum prices: La Coruña in Mesoiro, Barcelona in Barrio Besós and Ciudat Meridiana, Ávila in Plaza de San Francisco, Alicante in Barrio San Juan XXIII, Marbella in Leganitos and Salduba o Talavera de la Reina in El Pilar and La Estacion have had increased above 7% and in Valencia in the surroundings of Avenida Primado Reig and Avenida Constitución almost reach those growths (6.9%).
In addition, there are also significant increases in the most expensive areas of certain cities and capitals. In Dos Hermanas (Seville), in the urban center, they increase to double digits, in Palencia on Calle Mayor, Menéndez Pelayo and Avenida República Argentina around 8% and in Lugo in the area of the City Hall and Seminario Mayor above 7%.
