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Catalonia and Madrid, the Autonomous Communities where it costs the most to buy a new house 2 January, 2021

This report, called ‘Trends in the Real Estate Sector’, includes the evolution of the housing prerequisites during the second half of 2020 and of other proprietary indicators corresponding to the fourth quarter of the year that we just left behind.

At this point, it is found that the average price of new housing in the set of provincial capitals of Spain has increased by 0.9% during the last year, reaching 2,476 euros per square meter built in December 2020, which represents a cost of 222,840 euros for a 90-square-meter medium-size home. The half-yearly variation, on the other hand, has been 0.2% and the rate of price growth has slowed for the third consecutive year, thus maintaining the trend towards moderation in prices that began at the end of 2018.

On the contrary, the average price of new housing in the rest of the cities studied that are not provincial capitals was 1,678 euros per square meter, which represents an increase of 1% compared to December 2019.

At the level of provincial capitals, Palma de Mallorca is the one that has increased its price the most during the last year, with a rise of 1.4% to 2,126 euros per square meter. Behind, they are followed by Barcelona and Madrid, where the growth has been 1.3%, up to 4,491 euros per square meter and 3,673 euros per square meter, respectively.

COMPARATIVE BETWEEN CCAA

The comparison between the different autonomies leaves Catalonia (€ 3,983 / m2), the Community of Madrid (€ 3,673 / m2) and the Basque Country (€ 2,755 / m2) as the regions with the highest price, followed by the Balearic Islands ( € 2,162 / m2), Navarra (€ 1,911 / m2), Cantabria (€ 1,892 / m2), Aragon (€ 1,871 / m2) and Andalusia (€ 1,748 / m2).

THE REAL ESTATE CONFIDENCE INDEX STOPS ITS FALL

As detailed in the report, the Real Estate Confidence Index of the Valuation Society has stopped its fall and stands at 40.9 percentage points at the end of the year. During the fourth quarter of 2020, it increased 0.1 points.

At the end of this year, the index remains below the equilibrium situation in the 17 Autonomous Communities. La Rioja (33.1), the Balearic Islands (35.6) and the Canary Islands (37) are the autonomous regions that registered the lowest data in the last quarter.

On the contrary, Galicia (44.5), Cantabria (44) and the Valencian Community (43.8), are above the average and in the highest position.

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