The price of housing in Madrid is twice as high as in Barcelona

The price of new and used housing continues to rise. It has done 4.3% on average in 2021, to reach 1,470 euros / m2, according to provisional data from the IMIE Local Markets of Tinsa statistics. Housing has become more expensive in the two great markets par excellence -Madrid and Barcelona-, although in the Spanish capital the pace has been more vigorous.

Specifically, housing in Madrid is 10.5% more expensive in the fourth quarter of 2021 than in the same period of the previous year, while in Barcelona the figure drops to 4.8%. In the annual balance, house prices have risen by 5.8% on average in the capital of Spain, which is double that in Barcelona where the rise has been 2.9%. With these data, the average price in the Madrid capital amounts to 3,127 euros / m2, while in Barcelona capital it stands at 3,310 euros / m2.

By districts, the X-ray prepared by Tinsa reveals that prices have been generalized in Madrid in the last quarter of the year compared to the same period in 2020, although it has done so especially in peripheral areas or further away from the center. This is the case of Hortaleza (+ 15.7%), Vicálvaro (+ 14.3%), Villaverde (+ 13.2%) or Tetuán (+ 13.1%). Only one Madrid district has experienced price drops. It’s about Usera, where to buy a property is -5.8% cheaper than a year ago. In Barcelona, ​​prices have also risen in most of the districts in the last quarter, although in interannual rates they remain below the levels of the same period of 2020. Gràcia is the district with the highest appreciation during the year (+4, 9% year-on-year), followed by Nou Barris (+2.9%) and Sants-Montjuic (+1.7%). The districts that have become cheaper are Sant Martí (-6.2%), L’Eixample (-3.1%) and Sant Andreu (-6.2%).

And which are the most expensive districts of both cities? The Madrid homes that exceeded 4,000 euros / m2 they are concentrated in the neighborhoods of Salamanca, Chamberí, Chamartín, Centro and Retiro. As for Barcelona, ​​the ranking is led by Sarrià Sant Gervasi, Les Corts and Eixample in Barcelona.

Bull phase

In global terms, the price of housing has put on weight by 8.6% year-on-year in the fourth quarter of 2021. The result involves consolidating the trend started in previous months and reflects, according to Tinsa, a growth environment in which demand is higher than supply and construction begins to reactivate prudently, which could be indicative of a “rising phase of the real estate cycle”, assures Cristina Arias, director of the Tinsa Research Service. The expert also explains that the demand is showing “purchasing power with its own resources.”