To Buy Or Not To Buy?
Real Estate Market Spain Analysis 2022 Q3
We are well in the fourth quarter of the year and that actually also means the last Real Estate Market Analysis Spain of 2022. At the beginning of 2023 we will return to this topic with a complete overview of what the past year has meant for the Spanish housing market.
General situation housing market Spain in 2022
The average price of homes (new construction and existing construction) increased in the third quarter of 2022 by 8.5% on an annual basis and by 1.3% on a quarterly basis. If we compare this with the Real Estate Market Analysis Spain Q1 and the Real Estate Market Spain Analysis Q2, we see the rise in average house prices in Spain leveling off somewhat. Something that is partly explained by the season (especially the summer holidays).
This slight increase shows that the housing market in Spain is still ‘healthy’. Frequently discussed topics, inflation being perhaps the most important, do have an impact. But not nearly enough to make the Spanish housing market fluctuate. In addition, investing in stones is the best investment, especially during inflation, since otherwise your money will be worth less and less.
The graph below shows the average value per m² and the annual variation. The crisis from 2008 is still clearly visible, as is the short dip with Corona (which meant that no transactions could take place). The market is still developing well, but still not back to the level of the beginning of this century.
Property prices in Spain by autonomous region
The quarterly variations at the level of the autonomous states also show some moderation in house price growth, with the majority lying between 0.1% and 2.5%. All still maintain the positive trend.
Property prices in Spain by province
The scenario of year-on-year growth and quarterly price moderation is repeated at the provincial level, with most provinces recording year-on-year increases of between 3% and 8%. As in previous quarters, the province of Madrid is still at the forefront, with growth of no less than 9.5% on an annual basis.
The highest house prices per square meter can currently be found in the regions of Madrid (2,821 euros/m2), the Balearic Islands (2,627 euros/m2) and the Basque Country (2,315 euros/m2), followed by Catalonia (2,120 euros/m2) .
Conclusion property analysis Spain Q3 2022
The quarter-on-quarter growth of house prices in Spain shows less variation, but still: growth. In addition, the annual growth is an important figure to keep an eye on – after all, you usually buy a house to own it for more than a year. So if you are thinking about buying a house in Spain, now is a good time to get involved.
Would you like more advice about investing in Spanish real estate, or would you like to hear our advice about the different regions? Let us know.
Choose a reliable partner
All that new information can be quite overwhelming. Especially when you are going to invest in Spanish real estate for the first time. So let yourself be assisted by a reliable partner who can inform you about the entire process. Our experts have years of experience in supporting individuals and investors, so you can start your adventure without any worries.
