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Housing prices fall in Zaragoza and Córdoba

In Spain, the current price of housing averages 2,002 euros per square meter. In some capitals the price has seen an increase of more than 11% year-on-year, but in others the fall in price is beginning to be noticeable.

To be more specific, the average price to buy an apartment or house in Spain is 321,229 euros, as most homes are over 160 square meters. Growth has been seen in most cities, mainly in some of the most populated municipalities such as Alicante, Palma de Mallorca, Seville and Valencia. In these the price has increased by at least 8% in the last 12 months.

But there are two locations that have seen a decrease in price: Zaragoza and Córdoba.

In Zaragoza, 40.8% of the supply are three-bedroom apartments and the price of housing averages 1,689 euros per square meter. This is 0.2% less than last year, but 0.5% higher quarter-on-quarter.

Currently, to buy a house in Zaragoza you must invest approximately 190,972 euros, since the houses or apartments are around 113 square meters. Speaking especially of Aragon, which has 673,010 inhabitants, the price of a newly built home is 2,299 euros per square meter. This represents a year-on-year decrease of 2.9%, but a quarterly increase of 0.8%. In the case of second-hand housing, the square meter costs around 1,667 euros, down 0.4% year-on-year and up 0.4% quarter-on-quarter.

In the case of Córdoba, which has a population of 319,515 people, it is the large city where the price of housing has fallen the most in the last 12 months. According to statistics, it has fallen by 1.1%, to 1,352 euros per square meter. Comparing quarterly data, they have fallen by 1.6%, according to information from Brainsre.

In Zaragoza we saw as an example the prices of Aragon. In this case in the Andalusian municipality, 38.4% of the supply are three-bedroom apartments with an average price of 193,600 euros, since the homes have an average area of 143 square meters.

The price of new homes in Córdoba can be around 2,292 euros per square meter, 5.2% more than last year, but 0.4% less on a quarterly basis. With respect to used homes, the price is around 1,348 euros per square meter, decreasing by 1.2% annually and 1.6% quarterly.