Before…
The Property Bubble: House prices rose astronomically during the property boom before finally levelling out in 2007, when Spain started to fall into its economic crisis. This lasted until 2012/13, and in this period house prices fell 35-50%. In 2013, the market started to pick itself back up, but there wasn’t equal growth in all parts of the country; coastal resort areas and large cities recovered more quickly but in less popular regions the prices are still low today.
…and now
The property market is now going through a new ‘boom’ period, specifically in the rental sector in big cities like Madrid and Barcelona, where average prices have risen 20.9%. This is mainly due to the increase in demand and prices being adapted for the tourist rental market.
Prices of different types of property
Property prices in Spain vary greatly by region, by property type, size, quality, etc. Currently, the average price is 1,530 euro/m2, the maximum price being in the northern province of Gipuzkoa (2,700 euro/m2) and the minimum in Toledo (800 euro/m2).
Luxury apartments: A luxury property in Marbella could cost as much as 1 million euro whereas apartments in the same area, not on the beachfront but in the second street away, would be more like 300,000 euro.
Villas and country homes: For a five-bedroom villa, you could pay up to 5 million euro but in a village like Jávea (Alicante), a house costs just 200,000 euro.
Urbanizaciones Private Estates: Prices can vary between 85,000 euro for a studio apartment in La Manga Country Club in Murcia and 5 million euro for a four-bedroom villa in the same urbanización.
Estates: For a country farm, manor or estate, prices are normally around 100,000 - 200,000 euro.
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