Real estate prices in Spain in 2023: analysis and market prospects
Spain’s real estate market is currently one of the most promising in Europe. The demand for property in Spain is high among foreign buyers as well as locals. However, the price of property in Spain depends on many factors such as location, condition, and demand for property in the region.
Price dynamics in Spain: latest data from Spanish notaries
The average price per square meter of property in Spain in 2023 is €1627, which is 6.5% higher than at the start of the pandemic. Unfortunately, prices have not yet reached the peak seen in 2007 at €1887 per sq.m. However, the situation is different in regions popular with foreigners. Prices on the Balearic and Canary Islands have already exceeded the peak of 2007, and in Madrid, they are approaching this level.
There is a high demand for property in Spain and a steady increase in prices in the regions of Andalusia, Catalonia, Valencia, and Murcia. In these regions, property prices have not yet reached the 2007 peak, so there is great potential for growth.
Recent notary data shows that average property prices in Spain are rising, but not as quickly as in the past. This is due to the fact that some regions have already reached their price peak, while others still have room for growth. Despite this, Spain’s real estate market remains promising for investors and buyers who want to purchase property in the country. However, it is important to remember that when it comes to property, price should not be the only factor to consider. Other factors should also be taken into account to make the right choice.