The most expensive streets to buy a house in Spain's main cities

Calle Serrano in Madrid (€11,400/m2), Paseo de Gracia in Barcelona (€9,915/m2) and the main streets in the centre of San Sebastian, such as Avenida de la Libertad, Calle Hernani or Plaza de Guipúzcoa (€8,040/m2) are some of the most expensive in Spain to buy a house, according to a report by Tecnitasa. Maximum house prices in the main cities increased an average of 3.5% in 2022, with double-digit rises in prime location areas of Palencia, Cuenca, Segovia or Palma. Discover the most expensive streets to buy a house in Spain's main cities.

Maximum house prices in the main Spanish cities continue to rise, with an average price increase in these areas of 3.5%, according to the report by the appraisal company Tecnitasa. At the top of the price table are Calle Serrano in Madrid, which reached €11,400/m2, after a slight increase of 1.33% compared to 2021, followed by Paseo de Gracia in Barcelona, which is close to €10,000/m2 after a 3.5% rise in the last year.

Behind the two largest Spanish cities, San Sebastian is the third city with the most expensive streets to buy a home. Areas such as Avenida de la Libertad, Plaza de Guipúzcoa and Calle Hernani, all in the Romantic area of the Centro-Miraconcha neighbourhood, are priced at €8,040/m2, 3.75% more than the previous year.

"Even though expectations were bad, the real estate sector has held up well," said Fernando García Marcos, technical director of Tecnitasa. "The average increase in house prices in the most expensive areas has been around 3.5%. It is, therefore, less than the consumer price index (CPI) increase, as opposed to rent, which has risen more than the CPI for December".

Following behind, yet still above €5,000/m2, are Abandoibarra - Plaza de Euskadi in Bilbao, where prices have risen by 7% to €5,780/m2; and Centro - Malagueta in Malaga, where they have remained stable at €5,500/m2.

Moving on to Valencia with Paseo de Ciudadela and the streets Navarro Reverter and Colón, which have risen by 9.5% to €5,250/m2, and are very similar to Paseo Marítimo in Cadiz with €5,200/m2 after increasing by 4% year-on-year.

Completing the top 10 most expensive streets are El Sardinero (€5,115/m2) in Santander; the beachfront streets of Puerto Banus, Marbella (€5,000/m2) and Paseo Marítimo, Palma (€4,950/m2), which has increased the most in the top ten, with 10%, just outside the €5,000/m2 mark.

The most expensive streets in Palencia, Cuenca, Segovia, among the biggest increases

On the other hand, the main rises recorded in the last year have been in other streets such as Calle Mayor Principal and Menéndez Pelayo in Palencia, with an increase of 37% to €3,700/m2,  Avenida Pais Valencia and Parc Central de Torrent (18.3%), in Valencia with €2,000/m2, or the 16.5% increase in the Centro de Reus area in Tarragona at €2,150/m2.

Among the most expensive streets in 12 other cities, prices remained stable on the beachfront of Paseo de Las Canteras (€4,550/m2) in Las Palmas de Gran Canaria; Paseo Sarasate/Primer Ensanche in Pamplona (€4,250/m2) or Gran Vía and Platería in Murcia (€4,000/m2).

Another 17 locations saw prices in the city’s most expensive streets fall over the last year. The biggest price drops were recorded in the area around Plaza Europa in Hospitalet de Llobregat (-8.3%), Calle Uría and its surrounding area in Oviedo (-6.8%) and the Puerta Real area in Granada (-5.7%), along with Avenidas Tres Cruces and Avenida de Portugal, and San Andrés in Zamora, also with a 5.7% fall.