Particle.news

Download on the App Store

Spanish Housing Prices Rise Sharply With Murcia and Canary Islands Leading

Mortgage approvals jumped 7.4% with transactions down 2%, highlighting the gap between buyer demand and scarce inventories.

Overview

  • In July average sale prices climbed to €1,836 per square meter, a 6.7% year-on-year increase according to notary data.
  • The Region of Murcia recorded the steepest annual jump at 37%, the highest among Spain’s autonomous communities.
  • In the Canary Islands second-hand homes averaged €3,157/m² in July, up 22.5% year-on-year and adding roughly €46,382 to the cost of an 80 m² flat.
  • Housing transactions in May fell 2% year-on-year to 62,587 units, while mortgage originations rose 7.4% to 31,723 loans.
  • Apartment prices rose 7.6% to €2,101/m² in July, outpacing the 5.8% increase to €1,371/m² for single-family homes.