Malaga leads the rise in second-hand housing prices across Spain in 2022
The province of Malaga in Spain’s Andalucía led the rise in second-hand housing prices in Spain in 2022. The yearly increase of 13.5% places the square meterage at an average cost of 2,787 euros.
According to the Balance data for the year published by the Idealista real estate portal, this is an all-time high. The increase in values in Malaga slightly exceeds that of Alicante (13.2%) and the Balearic Islands (10.5%). The latter two are in second and third position and with which it and share the profile of provinces with the best tourist attractions.
The price of used housing in Spain rose by 5% over the last twelve months. The square meter price stands at 1,921 euros. Considering the quarterly variation, prices increased a further 1.5% since summer (1.4% in Malaga).
Absolute values
In absolute values, the highest prices for used housing were recorded in the provinces of Guipúzcoa (3,389 euros per meter), the Balearic Islands (3,706), Madrid (3,122), Malaga, Vizcaya (2,724), Barcelona (2,707 ) and Girona (2,159).
The Idealista spokesman, Francisco Iñareta, confirmed that, at the level of sales, 2022 has been “the best since the bursting of the bubble” and sales will be above the 600,000 figure. At the national level, prices have been maintained, in his opinion “contained” with some exceptions.
Iñareta pointed out that “The increase in the cost of financing could be the apex of a new cycle change that would be marked by a reduction in the number of operations at the national level and a stagnation in the most dynamic markets.”
He also added that although it is “unlikely” that we will see widespread price falls in the large markets in the coming months, it is more likely that prices “cool down and take a stable path”.
Read more: House prices in Malaga put local buyers out of reach
