Spanish Housing Prices Surge: Malpica Leads with 57% Jump, Eastern Regions Dominate Increases
Housing prices across Spain have surged significantly in the past year, with Malpica in A Coruña leading the nation with a 57% increase, far exceeding the 15.7% national average.
In the Canary Islands, Arico in Tenerife has seen the biggest jump in housing prices over the past year, with a 33% increase. This means the average price per square meter is now 2,155 euros, according to recent data from Idealista.
Across Spain, the biggest price hikes are happening in the eastern regions, known as the Spanish Levant. Seven of the top ten areas with the largest increases in used home prices are in the Valencian Community and the Region of Murcia.
The top spot nationally goes to Malpica in A Coruña, where prices have shot up by 57% compared to last year. Following closely are Cox and Rafal in Alicante, with price increases of 54% and 53% respectively. In fourth place is Villarejo de Salvanés in Madrid, which saw a 48% rise.
Torre-Pacheco and Fuente Álamo in Murcia come in fifth and sixth, with price increases of 46% and 44%. Marina de Cudeyo in Cantabria is next, with housing prices up by 39%.
Rounding out the top ten are three towns that all experienced a 37% increase: La Pobla de Vallbona and Gilet in Valencia, and San Pedro del Pinatar in Murcia.
These significant price rises, ranging from 37% to 57%, are much higher than the national average, which is 15.7% year-on-year.
Looking at the areas with the biggest price increases in each of Spain's autonomous communities, we see Los Villares in Jaén (Andalusia) and Chozas de Canales in Toledo (Castilla-La Mancha) both with a 35% rise. Arico in Tenerife (Canary Islands) follows with 33%, and Briviesca in Burgos (Castilla y León) with 32%.
Further down, with increases below 30%, are Sinéu in the Balearic Islands (27%), Laviana in Asturias, and Banyoles in Girona (Catalonia), both at 26%. Valle de Trápaga in Biscay (Euskadi) saw a 25% increase, Barbastro in Huesca (Aragon) had a 22% rise, and Hervás in Cáceres (Extremadura) saw a 18% increase.
Finally, two regions have their most expensive municipalities showing price increases below the national average: Logroño in La Rioja with 12%, and Tudela in Navarre with 11%.