Villas in Spain have become cheaper this year

Villas in Spain have become cheaper this year

The Ministry of Construction in Spain has reported on the cost of private homes for the second quarter of 2013. There was a drop in the prices of 7.8% year on year. The cost per square meter is €1,480. The quarterly decline was 2.5%, and since the peak that was observed in the first quarter of 2008, a square meter fell by almost 30%. 

According to kyero.com, in the primary market, prices fell by 5.1% to €1,562 per square meter. In the secondary market, prices fell by 8.2% and stood at around €1,463 per square meter.

Hardest prices fall was in the Canary Islands (-10.6%), Catalonia and Castile-La Mancha (-9.8%), Madrid and Aragon (-9.5%), Valencia (-9.3%). The regions with the lowest drop in the cost were Navarra (-0.2%), Basque Country (-0.5%), La Rioja (-0.7%), Balearic Islands (-3.7%) and Extremadura (-4.3%).

In municipalities with more than 25,000 people, the highest price per square meter was reported in San Sebastian (€3902 per square meter), Getxo (€3105), Lehon (€2,923), Bilbao (€2,761), Santurce (€2,727), Pozuelo de Alarcón (€2,636), Renteria (€2,634), Majadahonda (€2,560), Calvia (€2535) and Madrid (€2,493).

Lowest prices in cities with a population of over 25,000 inhabitants were recorded in Elda, (€679), Villena (€681), Tomelloso (€706), Ekle (€720), Val-de-Uscio (€766) and Burriana (€799).

And although the cost of housing has been steadily declining, the volume of construction across Spain continues to grow.