The average house price decreases in the third quarter of 2023

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The average house price in Spain documents a quarterly decrease of -0.3%, according to the registration statistical data of the College of Registrars relating to the third quarter of 2023. This confirms a “slowdown” in the year-on-year growth of this value, which is already It stands at 1.7% compared to 3.1% in the previous quarter.

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New construction housing falls more than used housing
The data show a greater drop in the average price of new Cayman Islands Phone Number List construction housing , which now stands at €2,148/m2 (-2.9%). The average price of second-hand apartments , on the other hand, shows a slight quarterly growth of 0.6% (€1,935/m2).

“The increase in interest rates is being one of the most relevant factors in generating a contraction in demand ,” they say from the College of Registrars, who also highlight an impact “initially on the number of sales, but in the short term as well.” on the price of housing.”

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The price of housing by autonomous communities
The regions with the highest average prices are the Balearic Islands (€3,388/m2), Madrid (€3,272/m2), the Basque Country (€2,983/m2), Catalonia (€2,457/m2) and the Canary Islands (€2,291/m2). .

The provincial capitals with the highest prices are Donostia (€5,366/m2), Barcelona (€4,318/m2), Madrid (€4,017/m2) and Palma (€3,260/m2). In any case, real estate agencies have perceived that the majority of capitals with more inhabitants have reduced their weight in home sales compared to their respective provinces.

The communities with the greatest positive quarterly variation are La Rioja (5.7%), Illes Balears and Cantabria (5.4%) and Andalusia (3.6%), while those with the greatest negative variation are Navarra ( -14.9%) and Aragon (-9.1%).

Anyone interested in knowing the value of their specific apartment can use a home appraisal simulator like Housfy's.

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Foreign demand for housing is growing: it represents 15.44% of sales
It is half a point more than the previous quarter: foreigners are buying more and more homes in Spain .

The most relevant nationalities have been the United Kingdom (10.11%), Germany (7.01%), France (6.72%), Belgium (5.35%), Morocco (5.32%), Italy (5 .13%), Netherlands (4.80%) and Romania (4.78%).

These sales have had more weight in the Balearic Islands (31.69%), Comunitat Valenciana (29.45%), Canary Islands (28.17%), Region of Murcia (24.83%), Catalonia (16.36%). and Andalusia (15.98%).

Recommended reading:   Discover the price per square meter by location
Repeat sales increase the price of the home
Another indicator of house prices (the Repeat Sales House Price Index) shows an increase in the price of bricks of 2.41%, which is a historical maximum higher than that reached in 2007.



This index is constructed by taking data from those homes that have been sold at least twice within the study period and has certain advantages. The most important is that, by using information from the same homes at two points in time, the characteristics on which the price evolution is calculated remain homogeneous. Thus, the evolution of the quality of the homes is controlled and provides a constant quality index.

Is it a good time to sell a flat?
Despite the slight decrease in the average house price and the slowdown in year-on-year growth in Spain, this could be a good time to sell a flat .

Adapting to current market conditions and taking advantage of platforms like Housfy could be an effective strategy to optimize the sales process, sell faster and at the best price.