Asking prices for spanish property edge up

The Basque Country, where resale prices are the most expensive Photo: Sami Keinanen

Asking prices for Spanish property edged up in February 2015, according to new figures from Idealista.com. The site's latest report (translated by Kyero) shows that resale house prices increased by 0.2 per cent last month compared to January 2015.

The average price of second hand homes is 1,595 euros per square metre. The figure is down 4.3 per cent compared to the same month in 2014, although the rise follows positive figures from a range of other indices, which indicate that the Spanish real estate market has bottomed out. Indeed, while the market remains below its point a year ago, the raising of asking prices month-on-month suggests that confidence among home sellers is improving.

Out of the 17 regions, seven saw prices increase month-on-month in February 2015, a trend led by Madrid (1.3 per cent), Andalucia (0.9 per cent) and the Canary Islands (0.8 per cent). The biggest declines were recorded in Extremadura (1 per cent), Asturias (0.7 per cent) and the Basque Country (0.5 per cent).

The Basque Country is the most expensive, with an average value of 2,638 euros per square metre, although Madrid is not far behind, with an average of 2,338 euros per square metre.

23 provinces recorded positive price movement, led by Lleida (1.6 per cent), Granada (1.5 per cent), Córdoba (1.4 per cent), Seville (1.4 per cent) and Barcelona, Zaragoza and Madrid (all 1.3 per cent). Soria recorded the biggest price drop of 2.3 per cent, followed by Castellon (1.8 per cent) and Cáceres (1.7 per cent).