BarcelonaThe price of housing continues to soar: nearly half of the 50 most expensive municipalities of more than 20,000 inhabitants in Spain to buy a house have recorded maximum prices. The presence of Catalan towns is high: there are seven in the Top 25, headed by Sitges, Sant Cugat and Barcelona. In all three, the average price of used housing in March exceeded 4,000 euros per square meter, according to the latest price index prepared by Idealista.
The municipalities with the most expensive housing in Spain
Prices in March 2023 (euros/m²) in towns with more than 20,000 inhabitants
The Balearic Islands, once again, undisputedly lead this ranking: the three most expensive cities in Spain to buy a home are in the island community. And not only that: Sant Josep de Sa Talaia and Santa Eulària des Riu, the two towns in Ibiza that head this list, are the only ones that exceed the barrier of 6,000 euros per square meter. In this community, foreigners already buy 31% of the flats that are sold there and it is the community where it takes more years of salary to be able to buy a flat.
The report includes the 50 municipalities with more than 20,000 inhabitants with the most expensive housing prices, and only five capitals appear: San Sebastià, Barcelona, Madrid, Palma and Bilbao.
Barcelona, the most represented demarcation
Up to 11 localities in the province of Barcelona appear in this ranking, and the seven that are in the Top 25 most expensive are Sitges, Sant Cugat, Barcelona, Castelldefels, Esplugues de Llobregat, El Masnou and Vilassar de Mar. Of these municipalities, the one with the greatest growth compared to the previous year is Esplugues de Llobregat, which has seen house prices increase by an average of 14.2%. At a similar rate, houses in El Masnou have become more expensive, which are worth 13.4% more than in March 2022. In fact, Barcelona and Catalonia are the most expensive areas in Spain to buy a construction flat new
The other four Catalan municipalities that are between positions 26 and 50 on the list are Gavà, with 2,834 euros per square meter; Sant Feliu de Llobregat, with 2,797 euros; Sant Joan Despí, with 2,744; and Molins de Rei, where the average house price is 2,579 euros per square meter.
Sant Antoni de Portmany
The Ibizan population of Sant Antoni de Portmany appears again with the biggest increase in the list: the average price shot up by 34.3% year-on-year
Throughout Spain, the city where prices have grown the most is again Sant Antoni de Portmany, in Ibiza, which has recorded an annual increase of 34.3%. Behind are two Canary Islands municipalities: La Oliva, in Fuerteventura, with an increase of 27.2%, and Adeje, in Santa Cruz de Tenerife, with 23%.
Of this ranking of 50 Spanish municipalities, the only ones that have seen a reduction in the value of homes are Getxo, in Biscay, with a decrease of 1.1%, and the two Barcelona towns of Molins de Rei (-2.2 %) and Gavà (-3.8%). The national growth average is 7.3%.
Despite leading the ranking, the Balearic Islands are behind Barcelona in the number of homes in the 50 most expensive in Spain. Madrid, with eight, closes the Top 3. The rest of the demarcations are Málaga, with five; Gipuzkoa and Las Palmas, with four each; Alicante and Biscay, with three, and Cádiz and Santa Cruz de Tenerife, with one.
Close to half, at historic highs
Of the twenty municipalities in the ranking that have reached historical highs, the Balearic Islands once again lead the sequence with six municipalities. Andalusia is the second community with the most municipalities in record prices, all in the province of Malaga. These are cities like Marbella, which have grown by 18.6%; Nerja, with a 7.7% increase, and Estepona, with a 19.3%.
The Spanish capital, Las Rozas and Boadilla del Monte are the three Madrid cities that have also reached maximums, as have Xàbia, Altea and Calpe in the Valencian Country. The rest of the Spanish cities with more than 20,000 inhabitants where it has never been so expensive to buy a house are in the Canary Islands: three in Las Palmas and one in Santa Cruz de Tenerife.