In August, the average price per square metre in Madrid reached €6,624, while in Barcelona it hit €5,375. Despite a drop in transactions, prices show no signs of significant decline.
The housing market in Madrid and Barcelona continues to show an increase in prices, despite a cooling in the number of transactions. According to expansion.com, in the Spanish capital, the average price per square metre reached €6,624 in August, representing a year-on-year increase of 8.2%. This means that a typical 80-square-metre flat costs approximately €529,920.
In comparison, Barcelona recorded a more moderate increase of 4.2% in the same period, placing the average price at €5,375/m2, which raises the cost of a similar property to €430,000. This price difference between the two cities has increased in recent years, particularly due to factors such as legal insecurity and legislative changes in the Catalan real estate market.
Despite the fact that transactions have fallen by 4% in June, marking six months of declines, prices are not immediately affected. In Madrid, transactions fell by 8.8% year-on-year, while in Barcelona the decline was 4.4%. José García Montalvo, Professor of Economics, points out that families are reaching their payment capacity limit, which is causing a slowdown in transactions and adjustments in sellers' price expectations.
The analysis of both markets suggests that the moderation in price increases could extend to other regions of the country, as Madrid and Barcelona often serve as leading indicators of trends in the Spanish real estate sector.
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