Spain: the smaller the town, the cheaper housing is 2020

Spain: the smaller the town, the cheaper housing is

03.09.2020 16:00

Usually, real estate in small villages is cheaper than in large cities. In some places in Spain, this price gap is quite impressive. If in a provincial capital 1 sq. m costs €1730, then in a town with less than 5000 inhabitants, its price is €830. Thus, according to the Idealista portal analysts, on average, accommodation in a small village is 51.8% cheaper than in regional centers.

Where to buy profitably

The largest gap between a capital and small municipalities is in the Barcelona region (69.1%), followed by Madrid (68.5%), popular touristic Seville (68%), San Sebastián (65.6%), A Coruña (63.3%). The provinces of Salamanca (62.5%), Granada (61%) and (60.8%) complete the list of most attractive for potential buyer regions. While in the Catalan province of Lleida, the trends are exactly the opposite: the difference in price between the capital’s real estate and village housing is quite insignificant (5.3%). The island of Santa Cruz de Tenerife shows a rather similar figure (6.5%). The price gaps in provinces of Murcia and Palma de Mallorca are from 12% to 14.9%.

Price dynamics

Over the past year, the cost of real estate in localities with 5000 inhabitants has decreased in five Spanish provinces. In Seville, it fell by 5.4%, by 3.2% in Álava, by 2.7% in Toledo. In Tarragona, housing prices dropped by 2.3%, and in A Coruña, only by 0.1%. As for Madrid and Cantabria, the cost of 1 sq. m. remained the same. However, in Badajoz, potential buyers will see an unexpected figure of 21.4% increase in housing prices in small municipalities. Prices rose by 21.2% in Castellón, as well as in six other provinces, including Soria (17.9%), Salamanca (16.4%), and neighboring Ávila (14.1%).

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