The average price of freehold housing rose 3.3% in 2022 to €1,749.20 per square metre at the end of the year. This is the highest price since the second quarter of 2011, when a square metre cost an average of €1,752.10.
The figures come from statistics published by the Spanish Ministry of Transport, Mobility and Urban Agenda (Mitma). House prices were calculated based on 171,538 transactions in the fourth quarter of 2022. Of the autonomous communities, seven exceeded the national average, as did the two autonomous cities. In Melilla, the increase was 8.7%, to €1,814.7/m2, and in Ceuta 5.9%, to €1,852.9.
Navarra in the lead
In the autonomous community of Navarra, the average price of freehold housing increased the most last year. With the increase of 6.1%, the average price per square metre reached €1,547.2 at the end of the year.
The Balearic Islands were in second place, with an increase of 5.9%, to €2,696.6 per square metre. This was followed by Andalucia, where the price per square metre of freehold housing was 4.7% higher, to €1,431.5. The only region with a decline in prices was Murcia, with an annual contraction of 0.1%, to €1,025.6/m2.
The Madrid region had the highest prices at the end of 2022, with an average of €2,888.1, meaning that homes there increased in price by an average of 4.6%. In Extremadura, the average square metre price was the lowest at €864.2.
Large differences between provinces
Comparing prices in different provinces, Guadalajara stands out, with a 9% increase to €1,239.7. In Málaga, prices rose 7.8%, to €2,071.4; and in Segovia, by 7.5%, to €1,061.1 per square metre.
In the following provinces, the average house price fell. These are Almería, Salamanca, Zamora, Segovia, Cuenca, Castellón, Cáceres, Lugo and Álava. Castellón suffered the largest decrease of 3.4%, to €1,067.6 per square metre, In Cuenca, the price per square metre at the end of the year was 3.2% cheaper, at €769.2.
The most expensive province was Guipúzcoa, with €2,875.8, 4% more than the previous year, while the most affordable province was Ciudad Real, with €729.6 per square metre, 2.1% more than the previous year.
Age of home plays a role
The average value per square metre of homes up to five years old was €2,082.8 in the fourth quarter of 2022, 5.3% more than in the same period of 2021. Houses five years old and older i recorded an increase of 3.2%, to €1,738.9 per square metre.
Among municipalities with more than 25,000, prices rose the most in Santa Eulalia del Río (Ibiza), with €4,407.2 per square metre, followed by Ibiza City, with €4,260.5 per square metre, and San Sebastián, with €4,220.07.
In contrast, the lowest prices in municipalities with more than 25,000 inhabitants were recorded in Puertollano (Ciudad Real), with €570.6/m2. And Villarrobledo (Albacete), with €593.3 per square metre.
The average price per square metre of protected housing in the fourth quarter of 2022 was €1,158.1. This is 1.2% more than in the same period of 2021.