The price of used housing rises in November by 1.2%: this has changed in your area

The price of used housing has registered an increase of 1.2% during the month of November, standing at 1,761 euros/m2, according to the latest index of apartment prices. If we look at the November 2018 data, the year-on-year increase is 4.6%. In Madrid, prices increased by 1.3% year-on-year in the penultimate month of the year, while in Barcelona they fell again by 1.6%.

Autonomous Communities

The price has been reduced by 6 ranges. Castilla-La Mancha and Extremadura lead the descents with a decrease of 0.7% monthly in both cases. They are followed by the falls of Asturias (-0.5%), Valencian Community (-0.4%), Aragon (-0.3%) and La Rioja (-0.1%). By contrast, the biggest rise has been in Andalusia (1.3%), Catalonia (1%) Madrid (0.9%).

Location Price Nov 2019 Monthly variation Annual variation Andalusia 1,642 s/m2 1.3% 7.6% Catalonia 2,278 eur/m2 1.0% 6.0% Madrid 2,800 euros/m2 0.9% 4.0%

Balearic Islands (3,071 euros/m2) is the most expensive autonomy. It is followed by Madrid (2,800 euros/m2) and the Basque Country (2,574 euros/m2). On the opposite side of the table, we find Castilla-La Mancha (868 euros/m2), Extremadura (891 euros/m2) and Murcia (1,043 euros/m2), which are the most economical communities.

Location Price Nov 2019 Monthly variation Annual variation Castilla-La Mancha 868 s/m2 -0.7% -1.5% Extremadura 891/m2 -0.7% -1.3% Asturias 1,347 /m2 -0.5% -1.1%

Provinces

15 provinces record higher prices than a month ago. The largest increase has been lived in Guipúzcoa (2.3%), followed by Alava (1.6%), Málaga (1%), Madrid (0.9%) and Santa Cruz de Tenerife (0.9%). In the provinces of Huelva, Valencia and Cadiz the price remained unchanged. The biggest drop, on the other hand, has occurred in Soria and Ceuta where the owners are asking for 1.4% less for their homes. They are followed by the falls of Toledo (-1.2%), Ciudad Real (-1.2%), Lleida and Cáceres (-1.1% in the two provinces).

Location Price Nov 2019 Monthly variation Annual variation Guipula 2,952 eur/m2 2.3% 3.1% Alava 1,981 s/m2 1.6% 4.5% Malaga 2,196 s/m2 1.0% 8.3%

The ranking of the most expensive provinces is led by the Balearic Islands with 3,071 euros/m2m2In second place is Guipúzcoa (2,952 euros/m2) and then Madrid (2,800 euros/m2).

Location Price Nov 2019 Monthly variation Annual variation Soria 956/m2 -1.4% -5.0% Ceuta 2,082/m2 -1.4% -1.3% Toledo 771/m2 -1.2% -1.1%

Toledo is the most economical province with a price of 771 euros for each square meter. It is followed by Cuenca (783 eurosm2) and Ciudad Real (799 euros/m2).

Capital

During the month of October the number of capitals that have increased in price has been 21. The steepest climb is the one experienced by the city of Las Palmas de Gran Canaria, where the expectations of the owners grew by 2.2%. In San Sebastian, the increase has been 1.9%, while in the city of Murcia it has been 1.5%. They are followed by the climbs of Santa Cruz de Tenerife (1.3%), Pontevedra (1.2%), Albacete and León (1% in both cases). Cuenca is, by contrast, the market where prices have fallen the most (-2.9%), followed by Cáceres (-2.6%) and Toledo (-2%).

Location Price Nov 2019 Monthly variation Annual variation Las Palmas de G.C. 1,994 s/m2 2.2% 7.0% San Sebastian 4,477 euros/m2 1.9% 6.7% Murcia 1,073 s/m2 1.5% 1.6%

San Sebastian is once again the most expensive city in Spain by placing its price at 4,477 euros/m2. It is followed by Barcelona (4,145 euros/m2) and Madrid (3,744 euros/m2). Cuenca, on the other hand, is the most economical, with its 1,045 euros/m2, followed by Avila (1,052 euros/m2) and Lleida (1,052 euros/m2).

Location Price Nov 2019 Monthly variation Annual variation Basin 1,045/m2 -2.9% -2.7% Cacs 1,122/m2 -2.6% -3.4% Toledo 1,390/m2 -2.0% 1.2%

The idealist real estate price index*

From the report for the first quarter of 2019, in idealista we updated the methodology of creating our reports. Following the incorporation of idealist/data, new calculation formulas have been included that bring even more robustness to the analysis of price developments, especially in small areas. To avoid jumps in our series, the data since 2007 have been recalculated with the new methodology.

On the recommendation of the idealist/data statistical team, we updated the formula to find the average price with more certainty: in addition to eliminating outlier and out-of-market ads we calculate the median value instead of the average value. With this change, in addition to further fine-tuning our report to the reality of the market, we approve our methodology with those that are applied in countries around us for obtaining real estate data.

We now include the type of single-family housing (chalet) and discard real estate of any type that has been in our database for a long time without obtaining user interaction. The report is still based on bid prices published by idealist advertisers.

 

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