March 2024: asking price of property for sale was higher in the region of Illes Balears, 4,587€ per square meter. Conversely, for properties for sale in the region Castilla - La Mancha, the asking price was 948€ per square meter, the lowest price in all of Spain. In the same month, the asking price for rental properties was higher in the region of Comunidad de Madrid, 21.04€ per square meter. The lowest average prices were, on the contrary, requested in the Extremadura region, 6.81€ per month per square meter, the lowest value at the national level.
| Regions | Sale(€/m²) | Rent(€/m²) |
|---|---|---|
| Andalucía | 2,164 | 11.31 |
| Andorra | 4,557 | 19.81 |
| Aragon | 1,262 | 9.13 |
| Canarias | 2,730 | 15.57 |
| Cantabria | 1,597 | 11.49 |
| Castilla La Mancha | 948 | 6.98 |
| Castilla y León | 1,237 | 8.28 |
| Cataluña | 2,184 | 18.03 |
| Ceuta | 1,757 | 7.47 |
| Comunidad de Madrid | 3,218 | 21.04 |
| Comunidad Foral de Navarra | 1,656 | 10.26 |
| Comunitat Valenciana | 2,129 | 10.72 |
| Extremadura | 1,092 | 6.81 |
| Galicia | 1,321 | 8.87 |
| Illes Balears | 4,587 | 16.56 |
| La Rioja | 1,558 | 8.89 |
| Melilla | 1982 | 10.28 |
| Pais Vasco | 2,828 | 14.8 |
| Principado de Asturias | 1,409 | 9.01 |
| Region of Murcia | 1,691 | 7.83 |
March 2024: residential properties for sale were asking an average of € 2,129 per sq. meter, 11.82% increase compared to March 2023 (1,904 €/m²). Over the last 2 years, the average price in Spain peaked in the month of March 2024 with a value of € 2,129 per sq. meter. The month in which the lowest price was asked was May 2022: properties for sale averaged € 1 823 per square meter.
In March 2024, an average asking price for residential properties for rent was € 13.01 per month per square meter, 15.54% increase compared to March 2023 (€ 11.26 per month per sq.m. .). Over the last 2 years, the average price in Spain reached its maximum in the month of March 2024 with a value of € 13.01 per sq. meter. The month in which the lowest price was asked was May 2022: for rental properties an average of € 10 was asked .04 per month per square meter.
What will happen to real estate in Spain in 2024?
According to many experts, in 2024, property sales in Spain will continue to rise, leading to higher prices. Even in small towns that are not well known, price increases will keep pace with inflation. In popular places, experts predict a price increase of 2-6%.
Real estate in Spain 2024
Looking at data over the past year, Spain looks set to continue attracting expats into 2024. The reason for this is nature, climate, developed social sphere and still relatively affordable prices.
And now more about the forecasts for 2024.
Real estate prices
According to many experts, property sales in Spain will continue to grow in 2024, which will lead to higher prices. Even in small towns that are not well known, price increases will keep pace with inflation. In popular places, experts predict a price increase of 2-6%.
What and where to buy?
Boats on the shore and a row of buildings in the background, villas and apartments by the sea in Spain are the most sought-after real estate options. But those who value a private, comfortable and secluded lifestyle prefer houses in Spain. These are favorites among retirees, vacationers, and remote workers—digital nomads.
However, apartments are a more budget-friendly and easier-to-maintain option. As a rule, they are part of modern communities, where everything necessary for proper daily leisure is provided. It is also a good option for families who value safety.
In 2023, the most popular destinations were the Costa del Sol, Costa Blanca and the Balearic Islands. Their advantageous location on the coast, as well as the Mediterranean climate, developed infrastructure and hospitality of the local residents, played a big role in this.
In 2024, the following cities will continue to strengthen their positions: Marbella, Orihuela, Estepona, Benalmadena, Villajoyosa and Torrevieja - for the purchase of villas and a relaxed lifestyle. Mijas, Marbella, Fuengirola and Malaga - for buying apartments and living with all the city infrastructure. These are also ideal destinations for job searches.
Market trends
As elsewhere in the world, green construction is gaining momentum in Spain. The work being done by governments and companies in this direction is of great importance. In Spain, many houses are being built that meet eco-trends. Such housing not only provides comfortable living conditions, but also supports the theme of caring for nature.
In addition, today buyers pay attention to the technological content of their home. Housing offering comfortable and modern features, in addition to practical design and quality finishes, has also become quite common. Such new products are especially important for millennial buyers.