What Are the Current Property Prices in Different Regions of Spain, and How Do They Vary?
Purchasing property in Spain is the desired goal of many. After all, this country with its healing climate, beautiful nature, rich history and culture and beautiful cities attracts the attention of tens and hundreds of thousands of people from around the world. Here you will want not only to spend your holidays, but also to move with your whole family for permanent residence, so many are interested in prices, including for homes in Spain.
Prices for Spanish real estate today are very diverse and depend on many factors:
- location of the property: real estate in large cities and on the coasts is much more expensive than in small rural settlements. If the property is located in a big city, then the price in the center can be several times higher than on the outskirts. If a coastal resort is being considered, then the cost of a property on the first line from the sea will also be significantly higher;
- development of infrastructure;
- time of construction: new properties will cost more than secondary market properties due to the quality of construction and the amount of amenities provided;
- area of apartments and land;
- number of bedrooms, bathrooms and utility rooms;
- if the property has a swimming pool and things like that.
Prices for homes in Spain are usually higher than prices for different types of apartments. However, the cost of luxury penthouses can be compared with the cost of spacious villas. On the other hand, the cost of small studio apartments and one-bedroom apartments on the secondary market is almost universally low and is available to a large number of potential buyers.
Overview of Prices by Region of Spain
Madrid, as the capital of a large European country, has everything you need and combines centuries-old historical charm with modernity. In the elite areas of Madrid Salamanca and Chamartin, real estate prices are traditionally high and range from €6,000-10,000 per 1 sq. m, in the less prestigious areas of Carabanchel and Usera there are many budget housing options and prices range from €2000-4000 per 1 sq. m.
Barcelona is a tourist center not only in Spain, but throughout Europe, and even the world. Therefore, prices here can be compared with those in the capital, and in the areas of Eixample and Sarria Sant Gervasi the average cost per square meter can range from €8,000 to €14,000. More affordable properties are located, for example, in the Nou Barris area with prices of €3000-5000 per 1 sq. m.
The third most populous city in Spain, Valencia enchants with its beauty and comfort. Golden beaches and majestic architecture are known far beyond the country’s borders, and if you are looking at homes in Spain, you should pay attention to this city. In the elite area of El Pla del Remei, prices are €3000-5000 per 1 sq. m., and in the Malvarrosa area you can buy apartments at a price of €1500-3000 per 1 sq. m.
Homes in Spain on the Costa del Sol are located in charming coastal towns with stunning beaches and beautiful nature. Prices vary significantly in this region. So, in the area of the luxury resort of Marbella they amount to €4000-8000 per 1 sq. m, in less prestigious places it is €1500-3000 per 1 sq. m.
Prices on the Costa Blanca in provinces such as Alicante and Murcia, according to experts, best meet the price-quality ratio. You can buy homes in Spain here, right on the coast, at prices of €2000-4000 per 1 sq. m, and far from the sea for €1500-3000 per 1 sq. m.
Those who really appreciate the vibrant resort life with beach holidays and nightlife flock to the Balearic Islands. Prices in resorts such as Mallorca and Ibiza are in the range of €5,000-10,000 per 1 sq. m., and in the outback of the islands they are more affordable and amount to €3000-6000 per 1 sq. m.
According to the fans, eternal spring reigns in the Canary Islands. These places have long been loved by connoisseurs of natural beauty and tranquility. Prices here are also varied. For example, in Tenerife it is €2500-5000 per 1 sq. m. In less popular areas they are in the range of €1500-3000 per 1 sq. m.
Property prices in the outback of Spain, with villages being predominant, are significantly lower than in large cities and resorts. There is a calm way of life there, as well as little residential construction going on, and properties are sold mainly on the secondary market. You can buy housing here at prices starting from €1000 per 1 sq. m., and in some places even much cheaper.
Understanding the intricacies of pricing when purchasing Spanish property is important to making informed decisions. Here you need to clearly think through the advantages of buying in a particular area of the country and compare your choice with the price level for local real estate. Then your purchase will be guaranteed to be successful.
