by Tripinvest UK
Q1 2024 Spanish Housing Market Statistics: A Detailed Analysis
The Q1 2024 Spanish Housing Market Statistics: A Detailed Analysis reveals a dynamic real estate landscape across Spain. According to the latest report from Registradores España, the first quarter of 2024 provides key insights into the housing market, with a particular focus on regions like Andalusia, Valencia, and Murcia.
Overview of the Q1 2024
The housing market in Spain during Q1 2024 has shown a mixture of growth and stabilization. Overall, housing prices have increased by 3.33% from the previous quarter, marking a new historic high. The average price per square meter across the country stands at €1,998, with a clear disparity between different regions.
Regional Highlights in the Q1 2024 Spanish Housing Market
Andalusia
Andalusia remains a vital region in Spain’s housing market. The Q1 2024 Spanish Housing Market Statistics report shows that the average price per square meter in Andalusia was €1,714, reflecting a modest quarterly increase of 1.0% and an annual rise of 3.3%. The region saw 28,390 housing transactions, an 8.0% increase from the previous quarter, although this is a 13.7% decrease compared to the same period last year.
Valencia
Valencia continues to be one of Spain’s most active real estate markets. The average housing price per square meter in this region was €1,553, with a slight decrease of 0.2% from the previous quarter but a notable annual increase of 5.4%. Valencia recorded 25,094 transactions in Q1 2024, up 19.7% from the previous quarter, though down 6.6% from last year.
Murcia
Murcia, known for its more affordable housing, saw an average price of €1,094 per square meter in Q1 2024. This represents a quarterly decrease of 4.7% and an annual increase of 1.2%. The region experienced 5,902 transactions, marking a 20.8% increase from the previous quarter but a 5.4% drop compared to the same period last year.
National Trends in Q1 2024 Spanish Housing Market
Across Spain, the Q1 2024 Spanish Housing Market Statistics show a significant uptick in housing transactions, with 151,476 total sales, reflecting a 16.6% increase from the previous quarter. New housing transactions surged by 30.1%, while used housing transactions grew by 13.6%. Despite these quarterly gains, the overall market shows a 5.9% decline in transactions compared to Q1 2023.
The demand for housing remains strong, particularly in key regions, which continues to drive price growth. However, there is noticeable variability across different communities, with some areas experiencing declines in both prices and transactions.
Insights from Q1 2024
Registradores España’s Q1 2024 Spanish Housing Market Statistics: A Detailed Analysis highlights the ongoing resilience of Spain’s housing market, driven by strong demand and regional dynamics. The differences between regions such as Andalusia, Valencia, and Murcia underscore the importance of local factors in shaping the real estate landscape.
Conclusion: What Q1 2024 Spanish Housing Market Statistics Mean for You
As we move through 2024, the Q1 2024 Spanish Housing Market Statistics continue to navigate a complex landscape of growth and challenges. For potential buyers, investors, and real estate professionals, understanding these regional differences is crucial for making informed decisions. The data from Q1 2024 provides a valuable snapshot of where the market is headed and what to expect in the coming months.
For a deeper dive into the statistics and to explore the full report, visit Registradores España. Looking to buy property in Spain? Contact Us for expert assistance in finding and purchasing your ideal property in Spain.
