If you're planning on buying or selling property in Spain in 2022, it's a good idea to keep up to date with Spanish property market statistics regarding house prices. When it comes to property prices in Spain in 2022, Spain among the countries where house prices are increasing the least according to data for the first quarter of the Knight Frank house price index.
The index confirms a generalised rise of 10.2% year-on-year among the 56 countries analysed. In 25 of them there were double-digit increases, with Turkey (110%), triggered by inflation, well ahead of the Czech Republic (25.9%) and Slovakia (22.1%), and among them Portugal (12.1%). In contrast, only two countries showed declines: Malaysia (-0.1%) and Morocco (-7.5%). Spain (4.4%) is among the countries with milder increases, below 5% like in Italy (4%) or Finland (2.1%).
The Global House Price Index from the real estate consultancy Knight Frank confirms that house prices in Europe continued to rise, increasing by 11.6% year-on-year during the first quarter of the year. This is 1.4 percentage points above the global average.
Only North America (18.6%) had a higher increase than Europeans, driven by increases in the US (18.8%) and Canada (18.4%), while Asia-Pacific (6.4% year-on-year) was the region where prices rose the least.
"Despite the increase in prices, the residential market continues to be in good shape," the consultancy said. "The elimination of restrictions due to the pandemic has boosted the recovery in housing demand," Knight Frank said.
Of the 56 countries analysed, in up to 25 of them, price growth exceeded double digits in their prices. The effects of inflation have pushed the value of houses in Turkey up to 110%, a far cry from the increases, but also worrying, in the Czech Republic (25.9%) and Slovakia (22.1%). Behind them, there were also increases of more than 10% in the Netherlands (19.5%), Ireland (15.2%), Sweden (12.8%), Germany (12.5%) and Portugal (12.1%). The United Kingdom was close behind (9.8%), while France saw increases of 7.1%.
Spain sees a year-on-year increase of 4.4%, ranking 45th out of the 56 countries analysed, similar to Italy (4%) and slightly higher than Finland (2.1%).
Spanish cities, far from the world's biggest house price rises
On the other hand, the international consultancy firm has also presented the Global Residential Price Index, which analyses 150 of the world's main cities. Istanbul, Ankara and Izmir top the list, boosted by Turkey's 69% inflation, while North American cities occupy 12 of the top 20 places.
The Canadian city of Halifax (34.7%) is behind the Turkish cities. The US cities of Phoenix (32.9%), Miami (29.7%), San Diego (29.1%) and Dallas (28.8%) follow among the biggest risers in the first quarter of 2022. The top European city is Bratislava, in thirteenth position, with a rise of 25.1%. The first Spanish city to appear is Madrid (87th place) after registering a 7.2% year-on-year increase between January and March 2022.
"Madrid is a booming market. With the disappearance of the restrictions after the pandemic, the demand for housing in the capital has recovered strongly. Foreign buyers, limited by the COVID-19 mobility reduction measures, have also recovered strongly. Madrid is a city that offers high-end developments, is the economic engine of Spain and has excellent international connections thanks to Barajas airport," explains Carlos Zamora, director of Knight Frank's residential division in Spain.
Behind Madrid, Valencia (6.6%) and Málaga (6.1%) are also in the Top 100 most prominent cities. Barcelona (4.3%) and Seville (3.9%) are outside the top 100, as are London (4.7%), Milan (4.4%), Paris (3.6%) and Rome (0.8%).