How much does real estate in Spain cost
The high popularity of Spain as one of the most promising countries for real estate investment raises a number of questions. What regions to pay attention to, which city to choose for investment, what is better to buy – an apartment or a house? We will answer these questions by examining their financial indicators. Where does real estate in Spain cost more? Where can you afford to buy a house by the sea in Spain for the price of an apartment in the city center? Interesting? Then this article is recommended for reading.
The crisis in Spain is over
The crisis in the country is coming to an end. By such parameters as the number of purchased objects, rising housing prices, the level of sales of commercial real estate and land plots, the number of loans – indicators are already reaching the pre-crisis. Most added to the secondary real estate mallorca in Palma (+29%). Not far from it Malaga, where prices rose by 16%. Real estate market trends are unanimously assessed by experts as positive.
Prices for Spanish housing by region: where is it more expensive?
The undisputed leader in such a parameter as the cost of housing in Spain is Barcelona. In terms of cost per square meter the capital of Catalonia is ahead of all other regions almost twice, except for some provinces. In Barcelona, the average price per square meter of housing is 4284 euros! In second place, the capital Madrid – 3285 euros, followed by the Basque Country and Bilbao region with a price of 2871 euros, the fourth – the Balearic Islands and the city of Palma, where the price per square meter on average is 2667 euros. The rest of the regions did not exceed the price of 2,000 euros.
The most inexpensive regions are:
- Murcia (1130 euros);
- Extremadura (Badajoz, 1,124 euros);
- Castile and Leon (Leon – 1222 euros);
- Castilla La Mancha (Toledo, €1277);
- Aragon (Zaragoza, €1,390).
The coastal regions of Valencia and Andalusia, popular with foreign investors, are in the price list per square meter of housing somewhere in the middle. In Valencia the price is about 1668 euros, and in Malaga – 1934 euros. In Tenerife, prices are very democratic, approaching the national minimum. In Santa Cruz de Tenerife, for example, you will pay about 1300 euros per square meter.
Where in Spain can I buy a house for the price of an apartment?
Is it realistic to buy a house on the beach in Spain at the price of an apartment in any of the major cities? The answer to this question is unambiguous: yes. If the price of an apartment in the center of Barcelona starts from 598 thousand euros for 90 squares, then in the vicinity of the picturesque village of Lloret de Mar for 420 thousand euros can buy a villa of 200 square meters with a plot of 8 hectares. Meanwhile, the drive from Lloret de Mar to Barcelona is about an hour or even less. The distance between them is only about 60 km.
Where in Spain is cheaper land and commercial real estate?
If we talk about commercial real estate or land, here, as everywhere else, there is a simple rule: the farther from the large settlements or the sea – the cheaper. At seaside resorts land 200-300m from the beach costs from 800 thousand euros for 8-9 hectares. While more distant from the edge of the sea plots will cost 250 thousand euros for 15 hectares.
Which region to choose?
We cannot give an unambiguous answer to this question. Here everyone determines such parameters as financial possibilities, the purpose of the purchase (own permanent or seasonal residence / rent / subsequent resale) and preferences (closer to the sea, farther from the passages, etc.). Choosing a cozy apartment in the center of any Spanish city or a picturesque place in the suburbs or the coast, it is difficult to remain at a loss.