House prices in Spain

Sociedad de Tasación presents the first complete report that analyzes the situation of the new housing market in Spain

Price growth on the new-build housing market began to temper in June, reaching an average of €2,809 per sqm — still a comfortable distance from the Q4 2007 peak (€2,905 per sqm).
Year-on-year growth stood at 6.4% (2.8% six-monthly), compared with 7.1% (3.4%) in December 2022.
All 17 autonomous regions saw prices edge upwards, from 3.4% year on year in Castilla-La Mancha to 8.2% in the Balearic Islands.
The Confidence Index dropped for the fourth consecutive quarter, dropping below the midpoint to 47.5 pts, reflecting the general mood of uncertainty in the market.
The affordability index fell by 28 points over the last 12 months due to rising interest and mortgage rates.
New-build housing is becoming increasingly expensive to develop in Spain, with average construction costs rising 8.1% to €1,201 per sqm in June 2023 compared to one year earlier.
In terms of emissions, 53% of development projects to begin construction in the first half of 2023 received an “A” rating .

Full details of the last report can be checked at the following link: ST Sociedad de Tasación Residential Real Estate Trends Report