Residential Market Barometer Num. 7

The figures for the second quarter of 2022 included in the residential barometer report conclude that there is still positive growth in both the main municipalities of Madrid and Barcelona and their respective areas of influence. Prices continue to grow strongly in the city of Madrid and its area of influence and the increases are strengthening in the city of Barcelona.

If we analyse the Madrid area in more detail, we can see that unit house prices rose in all municipalities. The municipalities leading the way with rises are different to those seen in previous quarters, with the municipalities of Alcorcón, San Fernando de Henares and San Sebastián de los Reyes standing out. The annual evolution of the average unit price in Madrid is +8.4% and that of its area of influence is +7.4%.

The municipality of Barcelona has seen a strengthening in the upward path for average unit prices, with growth of +6.5%. Almost all of the municipalities in its area of influence experienced rises, apart from Sant Joan Despí which saw minor year-on-year falls. Leading the way with rises are Sant Just Desvern, Cornellá de Llobregat and Badalona. As a whole, the average rise in the metropolitan area is +3.1%.

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The macroeconomic variables and their previous revisions point to sustained Gross Domestic Product growth and a fall in the unemployment rate. In relation to the variables for the real-estate market, the growth rates are larger, in terms of both the scale of mortgage loans and the number of house sales

As for the potential property bubbles warned by some media outlets and European organisations, we believe that these will not affect Spain, but do concern some European countries like Germany and Austria.

If we analyse the Madrid area in more detail, we can see that unit house prices rose in all municipalities. The municipalities leading the way with rises are different to those seen in previous quarters, with the municipalities of Alcorcón, San Fernando de Henares and San Sebastián de los Reyes standing out. The annual evolution of the average unit price in Madrid is +8.4% and that of its area of influence is +7.4%.

The municipality of Barcelona has seen a strengthening in the upward path for average unit prices, with growth of +6.5%. Almost all of the municipalities in its area of influence experienced rises, apart from Sant Joan Despí which saw minor year-on-year falls. Leading the way with rises are Sant Just Desvern, Cornellá de Llobregat and Badalona. As a whole, the average rise in the metropolitan area is +3.1%.

You can download below the seventh edition of the report on the Residential Market Barometer here: