The price of used housing has grown in Madrid over the last year, something that has not happened in Barcelona. But there have been exceptions.

The price of used housing has grown in Madrid over the last year, something that has not happened in Barcelona.  But there have been exceptions.

The price of used housing has grown in Madrid over the last year, something that has not happened in Barcelona. But there have been exceptions.

View of Madrid.

Buying a home is in good health. Estimates say that 2021 could end with 640,000 operations. This would be the year with the highest sales of the last decade. Regarding the price, and in the month of December, it has risen 2.79% compared to the same month of 2020. This is a percentage that refers to second-hand housing, according to piso.com. Average, the price is 1,878 meters per square meter. It should be remembered that almost 80% of the transactions are second-hand housing.

By provincial capitals, and during the last year, the price rose in 40 of them. San Sebastián continues to be the one who occupies the top of the podium, with 5,286 euros per square meter. They are followed by Barcelona (4,359 euros) and Madrid (4,072 euros). But, and paraphrasing the saying that joy goes through neighborhoods, the price of housing varies according to the districts both in Barcelona and in the capital.

“The districts with the most tradition are usually the last to drop in price and the first to increase in value,” says Ferran Font, director of Estudios de piso.com. And he adds: “Then there is the balance between supply and demand. There are populous districts with demand where supply is unable to respond to requests, which means a concentration of activity”.

Climb in Madrid

A double situation that makes prices rise in districts such as Chamartín, Retiro or Salamanca, but also in Usera or Puente de Vallecas. And the same thing happens in Barcelona with Sarrià-Sant Gervasi and L’Eixample, with tradition, or with San Martí and Horta-Guinardó, more populous.

In December 2021, second-hand housing in Madrid capital rose by 4.57% compared to the previous year. The average price was 4,072 euros per square meter. During the last month of 2021, said increase was 2.2%, the sixth most intense rebound in Spain. The rise compared to the last quarter and semester was 2.48% and 2.02%, respectively.

If we focus on the increases in the districts, the largest took place in Ciudad Lineal (7.22%), Fuencarral-El Pardo (3.16%) and Chamartín (1.37%) during the last quarter of 2021. On the other side of the scale, the deepest falls occurred in Hortaleza (7.42%), Villa de Vallecas (6.89%) and Carabanchel (4.02%), according to piso.com.

If the time period is extended to the last six months, the largest increases occurred in Barajas (7.19%), Ciudad Lineal (5.23%) and Usera (2.93%). On the opposite side, the decreases were more significant in Villa de Vallecas (6.99%), Moncloa-Aravaca (6.76%) and Moratalaz (5.87%).

And if we go back even further in time, and make the comparison with the last year, the higher prices of Usera (9.41%), Puente de Vallecas (6.49%) and Barajas (4.99%) stand out. On the contrary, prices deflated more in Moratalaz (5.30%), Vicálvaro (4.88%) and Carabanchel (3%).

Ascents or descents apart, the most expensive districts in Madrid were Salamanca (6,789 euros per square meter), Chamberí (5,899 euros) and Chamartín (5,636 euros). The cheapest districts, meanwhile, were Villaverde (1,704 euros), Puente de Vallecas (1,971 euros) and Usera (2,072 euros).

Get off in Barcelona

In December 2021, Second-hand housing in Barcelona fell by 1.32% compared to the previous year. During the last month of that year, it also had a decrease of 0.23%. However, the increases occurred with respect to the last quarter and semester: 2.24% and 2.17%, respectively.

The resulting photograph by district resembles that of Madrid, with ups and downs both in those considered richer and in the more populous. The most pronounced increases during the last quarter of 2021 were in Horta-Guinardó (3.53%), Sarrià-Sant Gervasi (2.66%) and Les Corts (2.35%). In this period, the most striking falls were recorded by Nou Barris (2.51%), Gràcia (0.91%) and Sant Martí (0.48%).

View of Barcelona.

View of Barcelona.

Semestrally, the districts that increased the most were Sants-Montjuïc (3.38%), L’Eixample (3.35%) and Horta-Guinardó (3.02%). And there were only three districts that fell: Sant Andreu (3.58%), Gràcia (3.12%) and Nou Barris (2.43%).

In the last year, the increase was notable in Horta-Guinardó (4.73%), Sarrià-Sant Gervasi (3.48%) and Sant Martí (3.26%). The relegation zone was led by Gràcia (5.27%), Sant Andreu (4.04%) and Nou Barris (3.65%).

On the whole, Sarrià-Sant Gervasi (5,649 euros per square meter), Les Corts (5,338 euros) and L’Eixample (5,279 euros) were the most expensive districts. More affordable was in Nou Barris (2,448 euros), Sant Andreu (3,073 euros) and Horta-Guinardó (3,214 euros).

“It is very likely that the price of housing will continue to rise, in line with inflation, which is a wake-up call for potential buyers,” says Ferran Font. And he concludes: “If you have the financial conditions to be an owner, waiting could mean buying more expensive or not finding the offer in the location you want.”

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