Housing prices

Sixty-five per cent of the properties listed for sale on idealista in the fourth quarter of 2023 were under €150,000, according to a study published by idealista, southern Europe's leading real estate marketplace.

If you've been looking at the property market for some time and want a first or second home in Spain, you should take the plunge this year. Some factors suggest you should buy a property in 2024.

New-build housing prices in Spain will continue to rise in the first part of the year (4.1%), although at a slower rate than in previous quarters, to settle at an average of €2,925/m2, according to Sociedad de Tasación (ST)'s outlook for the residential market.

The gap between demand and supply is a key factor that marked the real estate market in Spain during 2023. This is likely to continue in these first months of the year, just as there is a difference between new and used housing.

In 2023, the Community of Madrid experienced a year of falling sales and rising housing prices and rent.

Foreigners buying homes in Spain between January and June accounted for 21.4% of the total number of transactions, despite a 7.5% drop compared to the same period in 2022, according to statistics from the General Council of Notaries.

Between April and June 2023, house prices rose by 3% compared to the previous quarter and by 1.1% compared to the same period last year, according to Solvia's II Solvia Market View 2023 study. The real estate services firm for individuals explained that after several months of slowing rises, house

The Community of Madrid is one of Europe's most cosmopolitan regions; living there can be a unique and enriching experience.

As it does every year, the General Directorate of the Cadastre has already published which towns and cities will be reviewed next year.

Foreign investment in Spain, without Foreign Securities Holding Entities (ETVE), has fallen by 26.6% in the first six months of 2023 compared to the same period last year, reaching a volume of €11.996 billion, according to the Foreign Investment Register DataInvex of the Secretary of State for Trade

House prices continue to rise after the 7.2% increase recorded in August, reaching a national average of €2,004/m2.

The districts of Salamanca, in Madrid, and Sarria-Sant Gervasi, in Barcelona, are in the 'top 10' luxury neighbourhoods in Europe's most important cities for buying a home, according to the estate agency Evernest. The top spots among these most exclusive neighbourhoods to buy a home are Kensington-

The most exclusive street in Spain for buying a property is on the Costa del Sol and covers the entire development of Coto Zagaleta in Benahavis.

According to the Registrars, Data on property purchases closed the second quarter of 2023 with a 5.6% year-on-year fall. The fact is that 2022 was a record year, reaching transaction figures not seen since the real estate boom.

Malaga – with a population of almost 600,000 – has been attracting the interest of foreigners for years and has become one of the most highly rated cities in Spain. It is located on the Costa del Sol and has an ideal climate that appeals to tourists.

Housing continues to be at the heart of investors' interest.

Although the real estate market does not stop during the summer, some buyers wait until September to finish looking at and negotiating property prices.

It's peak tourist season in Mallorca, and alongside the usual holidaymakers flying in to enjoy the sun, sea, culture and Richard Branson's new Son Bunyola hotel, more people are looking for properties. Prices are also rising.

All 50 Spanish provinces have at least one property for more than €1 million listed on idealista, but their distribution is not even. The provinces of Malaga, the Balearic Islands, Madrid and Barcelona have 70% of all available properties above that amount.

The prime housing market is moving at a different pace to the rest of the residential market, no matter the destination. The real estate consultancy Savills says that more than 70% of luxury property purchases in London were made in cash between January and May this year.

UK house prices recorded their biggest drop in 14 years, falling 3.8% year-on-year, according to Nationwide's monthly report.

Uncertainty, inflation, and rising mortgage rates are taking their toll on the UK residential market. And in the capital, London, it is already causing house prices to fall.

The UK housing market remains on a downward path, with prices in June falling by 2.6%, confirming their fastest annual rate of decline since June 2011.

The first few months of 2023 have proven Malaga's growing dynamism in the luxury real estate market. The city has become an increasingly attractive destination for high-end international buyers, driving solid and promising growth in this market.

Holiday homes went up in the first quarter by 6.3% over the last year to €2,550 per square meter, 35% above the average value of first homes in coastal areas, according to Tinsa's 'Housing on the Coast 2023' report. Considering both first and second homes, the average value recorded a year-on-