Housing Price Evolution in Spain
The Spanish real estate sector is facing a sharp drop in prices, which reached 45% in specific geographical areas. This article provides information relating to the areas that registered the highest and the lowest real estate prices.
This study is based on a report from the appraiser Euroval, which described the offers and assessment of the value of apartments registered during the first half of 2013.
The cities that registered at higher prices are San Sebastian and Barcelona. Three hundred and eighty-five of homes in San Sebastian have a value of between 208,000€ and 316,000€, and 44% of the properties situated in Barcelona are estimated between 135,000€ and 287,000€. The range of prices registered in Madrid is slightly higher: 52% of homes registered between 62,000€ and 198,000€.
The cities that registered at lower prices are Huelva and Lleida. In Huelva, 38% of properties were evaluated between 82,000€ and 128,000€. And in Lleida, the range of prices is even lower, registering between 74,000€ and 124,000€ on 44% of its properties.
These figures indicate the type of market that we face. A low percentage shows that the range of prices is dispersed, which makes the average pricing matrix rather limited. This is the case for Toledo (29%), Zamora (23%), and Pontevedra (22%) where a low percentage follows a common price scheme. Approximately 75% of the properties are outside the range of prices. By contrast, a high percentage reveals a concentrated market in which the majority of homes are situated in the range of prices. This is the case for the cities of Ciudad Real (54%), Madrid , or Seville (52%).
Finally, it is important to emphasize the amplitude of the range of prices. Madrid is the city where there is the most significant difference between the higher prices and the lower prices: a gap of about 136,000€ (62,000€ – 198,000€)
This article is not considered as legal advice