Annual average housing prices Spain 2007-2021
In June 2021, a new house in Spain would cost around 2,482 euros per square meter built. After a long period of time in which Spain’s real estate prices increased sharply, the market was hit by the global financial crisis of 2007, making the Spanish property bubble collapse and damaging home value. House prices have picked up ever since in the Mediterranean country. According to the European Mortgage Federation (EMF), real estate prices in Spain initiated a solid recovery, reaching 110 house price index points in 2020 from a lowest point of 70.8 index points recorded in 2014.
Spain’s real estate market behind others
The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Sweden at 160.6 index points. In 2016, 200 thousand euros could still buy a 119 square-meter home on average in Spain, whereas it would only allow for a 50 square-meter apartment in France.
Renting becoming more popular in Spain
As happens with many other countries, home rent and purchase prices will differ considerably dependent on the area. There are some indicators though that pointed to renting being slightly more favorable than buying a home in Spain as of 2015, which might be the reason why more people are renting in recent years than before the financial crisis.
Spain’s real estate market behind others
The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Sweden at 160.6 index points. In 2016, 200 thousand euros could still buy a 119 square-meter home on average in Spain, whereas it would only allow for a 50 square-meter apartment in France.
Renting becoming more popular in Spain
As happens with many other countries, home rent and purchase prices will differ considerably dependent on the area. There are some indicators though that pointed to renting being slightly more favorable than buying a home in Spain as of 2015, which might be the reason why more people are renting in recent years than before the financial crisis.
