Costa News Spain Breaking News | English News in Spain.
According to the registration data, HOUSE PRICES reached a new record in 2024.
Second-hand homes were 6.3% more expensive compared to the previous year with average prices of €2,039 per m2 while new houses rose by 4.8%.
Non-Spanish purchasers of property accounted 14.6% of all deals, which is just shy of the 15% record reported in 2023.
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These statistics were compiled by The Association of Registrars.
Galicia saw the largest increases in real estate sales (22.4%). La Rioja was next (19.7%), followed by Asturias (19%), and Castilla La Mancha (18.2%).
Provincial breakdowns showed the most expensive prices were in the country’s smallest province of Guipuzcoa (€3,577) in the Basque Country.
That’s followed by the Balearic Islands (€3,575), Madrid (€3,527), Barcelona (€2,923), Vizcaya (€2,895) and Malaga (€2,750).
The highest provincial capital prices were recorded in San Sebastian (€5,708), Madrid (€4,517), Barcelona (€4,483), Palma (€3,631) and Bilbao (€3,068).
The average price per home purchase was another record at €198,407- up by 6.7%.
Among Spain’s 17 regions, the highest average prices were in the Balearic Islands (€380,166), the Community of Madrid (€339,805), the Basque Country (€255,998) and Catalunya(€227,611).
Nearly 93,000 foreign purchases were made in total. The most active regions are the Balearic Islands, Valencian Community, Canary Islands (27.2%), Murcia (23.6%), Catalunya (16.3%), and Andalucia (14%).
10.8% of housing bought by non-Spaniards reached an amount equal to or greater than €500,000 which is another record.
52.6% of the foreign sales came from non-EU citizens while the average mortgage given to foreign buyers was €171,202- an increase of 8.6% on the 2023 figure.
