For the first time since the end of 2022, the average price of housing for sale takes a breather in Spain after recording a slight decrease of 0.3% in August.
Although the monthly fall seems modest, the data marks a symbolic turning point by breaking the longest streak of consecutive rises in recent years.
After 43 continuous months of monthly increases, the average value of pre-owned properties in Spain stood at 2,924 euros per square metre (€/m²). The slowdown has not been uniform across the map, highlighting month-on-month drops in major markets such as the Community of Madrid (-1.5%), the Canary Islands (-0.6%) or Catalonia (-0.3%). In the case of our Autonomous Community of Andalusia, the data do not reflect that drop, which is indeed more pronounced in the Capital, but rather a slight rise (+0.5%)

From Inmobiliara Alcaidesa 1%, we assess this data with caution: despite the timid breather in August, the annual outlook continues to show strong buying pressure. In year-on-year terms (compared to August last year), housing carries an price increase of 12.5%, accumulating 20 consecutive months of double-digit growth in year-on-year comparison.
Positive quarter: During the last three months, the accumulated cost still reflects a 1.5% rebound.

Turning point or summer pause?
The big question for buyers and investors is whether this 0.3% adjustment will translate into the start of a downward trend or if it responds to the usual relaxation of activity during the summer weeks.

(Source: idealista property price index)

Eduardo del Águila - Director of Inmobiliaria Alcaidesa