Home values rise in the outskirts of Madrid and Barcelona

The residential market has increased its value in the metropolitan areas of Madrid and Barcelona. The unit value of housing in the outskirts of the Spanish capital has increased by 8.5%, reaching 2,628 euros per square meter, while in the area of influence of Barcelona the average has risen slightly over the past year, with an increase of 1.9%, reaching 2,542 euros per square meter.

This is according to the IX Residential Market Barometer prepared by Gloval, which monitors quarterly data and the behavior of prices in the residential markets on the outskirts of Madrid and Barcelona, as well as in the two capitals.

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Average value of housing in the metropolitan area of Madrid

The consulting firm, which has focused on the municipalities that form part of these areas of influence, observes heterogeneous behavior. All the municipalities that make up the Madrid periphery show annual price growth in 2022. Thus, the annual increases in the metropolitan area of Madrid are mainly due to Las Rozas de Madrid, Alcobendas and Leganés. Likewise, slight setbacks are shown in the last quarter in Alcobendas and Móstoles.

In this way, Gloval highlights the annual variation of Las Rozas de Madrid with an increase of 12.6%, placing its unit value of housing at 3,274 euros per square meter. Although the highest increase occurred in Las Rozas, the Madrid municipality with the highest housing value is Pozuelo de Alarcón, with a price per square meter of 3,653 euros.

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Average value of housing in the outskirts of Barcelona

In the outskirts of Barcelona, there was a slight decrease of 0.6% quarter-on-quarter, given the decreases in the municipalities of Sant Joan Despí and Sant Adrià del Besós. And unlike the periphery of Madrid, not all municipalities in Barcelona have experienced annual growth in unit housing prices.

For example, Sant Adrià del Besós has shown a decrease of 3.9%, placing its unit value of housing at 2,074 euros per square meter; and Sant Joan Despí with a decrease of 0.9%, placing its unit value of housing at 2,675 euros per square meter. In fact, these have been the two that have broken the general upward trend. On the opposite side is Sant Cugat del Vallès where the price of its homes has grown by 8.2%, standing at 4,054 euros per square meter, the highest price of the entire metropolitan area of Barcelona.

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Average housing prices in Madrid and Barcelona

Regarding the average price of housing in both capitals, Gloval points out that Madrid closed the year with a unit value of housing at 3,528 euros per square meter, an annual increase of 6.6%, although the capital shows a slight quarterly decrease of 0.9%.

And the city of Barcelona reached 3,630 euros per square meter at the end of 2022, an annual increase of 2.4%, although there was a small decrease in price of 0.2% compared to the previous quarter.

And the city of Barcelona reached 3,630 euros per square meter at the end of 2022, an annual increase of 2.4%, although there was a small decrease in price of 0.2% compared to the previous quarter.

For Roberto Rey, president and CEO of Gloval, "the news that was read during the third quarter of 2022 related to a drop in housing values for 2023 seems that they are no longer so negative and begin to give signs only of a moderation in its annual evolution . Macroeconomic and real estate sector data seem to be moderating the estimates and point torather, to an environmentan environment that would be conducive to a slowdown in this sector.. However, to get a clearer picture of the context, everything suggests that we will have to wait until the second half of the year.