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SOCIEDAD DE TASACION

Sociedad de Tasación publishes the Real Estate Trends Report, detailing average prices for new-build and existing housing 2023

  • While the pace of growth continues to slacken (coming in at 3.7% year on year for September), higher interest rates have sent the affordability index into a 25% slide over the last twelve months.
  • The average price for new-build and existing housing hit €1,835 per sqm in Spain at the end of September 2023, compared with €1,820 per sqm in June 2023.
  • 17 autonomous regions experienced price hikes in June 2023, with year-on-year growth ranging from 2.3% in Castilla y León to 5.4% in the Balearic Islands .
  • Having overtaken Barcelona in mid 2022, Madrid now tops the ranking as Spain¿s priciest province. Here, the average home commanded €2,905 per sqm in June 2023, compared with €2,878 per sqm in the Catalan capital.
  • The Confidence Index slumped for a fifth consecutive quarter to 46.9 pp, suggesting that optimism in the sector has faded.
  • The construction cost for new-build housing grew by 7.9% over the past year, reaching €1,251 per sqm in Q3 2023.

Full details of the last report can be checked at the following link: ST Sociedad de Tasación Quarterly Report Third Quarter.

 

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