The average assessed price of free housing increased by 3.1% in the first quarter of the year, to 1,788.4 euros per square meter, the highest figure since the last of 2010, when it reached 1,825.5 euros per square meter, according to data from the Ministry of Transport, Mobility and Urban Agenda (Mitma) and collected by Europa Press.
Despite the fact that year-on-year growth moderated during the first year last, from 3.3% to 3.1%, which seemed to have moderated, the average price of free housing increased by 2.2% from the first quarter of 2023 over the fourth quarter of 2022.
However, the average value of the square meter of free housing up to five years old stood at 2,112.1 euros between January and March, 6.6% more than in the same period of 2022, while housing Free for more than five years, the price rose 3% year-on-year, up to 1,778.1 euros per square meter.
Inclination towards new construction housing
As highlighted this Friday by the Spanish Mortgage Association (AHE), the “shortage” of new real estate developments, together with the preference of buyers for newly built homes, could explain the sharp rise in the price of new construction housing (up to five years old).
By autonomous community, the largest year-on-year increases in the price of free housing during the first quarter occurred in the Balearic Islands, with a rise of 7.8%, up to 2,803 euros per square meter; Andalusia (+4.8%, 1,466 euros per square meter); Canarias, where prices rose by 4.7%, to 1,670 euros per square meter, and Madrid, which raised its prices by 4.6%, to 2,978 euros per square meter.
The capital, the most expensive community
The price of housing, and therefore, per square meter varies according to the distance from the capital. Precisely, Madrid was the region with the highest price, followed by the Balearic Islands (2,803 euros per square meter); Basque Country (2,541 euros per square meter) and Catalonia (2,186 euros per square meter).
On the contrary, the lowest prices correspond to Extremadura (880 euros per square meter); Castilla-La Mancha (929 euros); Murcia (1,049 euros) and Castilla y León (1,057 euros). In relation to subsidized housing, the Mitma statistics place the average price per square meter in the first quarter at 1,163.7 euros, 1.9% more than in the same period of 2022 and 0.5% above the value of the last quarter of last year.