In August, Spain’s used housing sector saw a modest growth, but the Balearic Islands Housing Prices continued to stand out. The prices settled at 2,004 euros/m², showing a 7.2% rise from the previous year. This figure, however, is still 5.3% below the all-time high reached in June 2007. Dominating the charts, the Balearic Islands have emerged as the priciest autonomous community globally, with Balearic Islands Housing Prices averaging an impressive 3,987 euros/m².

Regional Price Fluctuations

The Balearic Islands Housing Prices aren’t the only ones seeing fluctuations. Other regions also experienced changes:

• Gainers:
• Canarias leads with a 1.4% hike.
• Followed by La Rioja (1.1%)
• Asturias (1%)
• Cantabria (0.9%)
• Euskadi (0.8%)
• Andalucía and Comunitat Valenciana both at (0.7%).
• Castilla-La Mancha (0.5%), Aragón (0.4%), Balearic Islands (0.3%), and both Navarra and Galicia at (0.2%) reported smaller increments.
• Decliners:
• Extremadura witnessed the most significant drop at (-0.6%)
• Followed by Catalonia (-0.4%), Region of Murcia (-0.2%), and both Community of Madrid and Castilla y León at (-0.1%).

Price Rankings by Autonomy

The Balearic Islands Housing Prices, with an average of 3,987 euros/m², lead the pack. They are followed closely by other communities: Community of Madrid (3,139 euros/m²), Euskadi (2,844 euros/m²), and Catalonia (2,345 euros/m²). Conversely, the most affordable communities include Castilla-La Mancha (907 euros/m²), Extremadura (943 euros/m²), and Castilla y León (1,156 euros/m²).

Provincial Price Movements

August Observations:

• Gainers:
• Guipúzcoa spearheads with a 2% increase.
• Notably followed by provinces like Santa Cruz de Tenerife, Huesca (both at 1.9%), Albacete (1.7%), Málaga (1.3%), and both Almería and Huelva at (1.2%).
• Decliners:
• Badajoz decreased the most by (-1.1%), with Barcelona (-0.6%), and Segovia, Ávila, and Salamanca all dipping by (-0.4%).

The Balearic Islands stand out as the most expensive province for housing at 3,987 euros/m², closely followed by Guipúzcoa (3,490 euros/m²). The cheapest province? Ciudad Real with an average of 752 euros/m².

City-wise Trends

In August, 40 Spanish capitals marked an uptick in their housing prices. Santa Cruz de Tenerife leads this surge with a 4.2% increase, while cities like Santander (3.3%), Teruel and Castellón de la Plana (both at 2%), and San Sebastián (1.9%) also witnessed significant growth. In contrast, A Coruña and Cuenca both decreased by (-0.9%), and Segovia and Badajoz followed closely.

Interestingly, in August, housing prices in Barcelona grew by 0.1% and by 0.3% in Madrid. However, San Sebastián emerged as Spain’s priciest capital with a rate of 5,326 euros/m². On the flip side, the most budget-friendly capitals include Jaén (1,113 euros/m²), Zamora (1,126 euros/m²), and Lleida (1,174 euros/m²).

Conclusion

Spain’s housing market, especially the Balearic Islands Housing Prices, continues to show dynamic trends. With fluctuations across various provinces and cities, Spain’s real estate landscape remains both intriguing and diverse.