Ibiza is the second city in Spain with the most expensive property price

Ibiza is the second city in Spain with the most expensive property price.

All over Spain, the average of housing stood at 1,566.6 ㎡ while in Ibiza this is more than 3,000€/ ㎡.

The evolution of the average price of housing in Spain has changed significantly in the last three years. Proof of this is that at the end of March 2018 the average price to buy a house in Spain reached 1,566.6 €/ ㎡, representing an increase of 2.7% compared to last year and an increase of 0.5% compared to the previous quarter.

The market in Spain is divided into two groups since 2014: the regions with rising prices and all the other regions where the prices have stabilized or are increasing modestly.

Considering the municipalities with more than 25,000 inhabitants, the highest prices for housing were registered in San Sebastián (3,347€/ ㎡), Ibiza (3,099€/ ㎡), Sant Cugat del Vallès (3,098€/ ㎡), Barcelona (3,084€/ ㎡), Santa Eulària (3,061€/ ㎡), Madrid (2,924€/ ㎡), Getxo (2,851€/ ㎡) and Majadahonda (2,83€/ ㎡).

The lowest prices in municipalities with more than 25,000 inhabitants were located in Elda (546€/ ㎡), Villarrobledo (557€/ ㎡), Petrer (570€/ ㎡), Villena (574€/ ㎡), Ontinyent (577€/ ㎡), and Puertollano (593 €/ ㎡).

If we look at the autonomous communities the biggest increase is registered in Madrid (+8%), Balearic Islands (+7%), Catalonia (+4.2%), Murcia (+1.7%), and the Community Valenciana (+1.6%).

On the contrary, some autonomous regions have shown a year-to-year fall, within them Cantabria (-4.5%), País Vasco (-1.5%), Navarra (-1.3%), and Castilla-La Mancha (-1,1%).