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Second-hand property prices in the Region of Murcia have risen more than anywhere else in Spain over the past year, according to the latest figures from Idealista.
The data shows that resale prices in the Region increased by 24.6% in May compared with the same month last year, placing Murcia at the top of the national rankings and well above the Spanish average of 16.9%.
The regional housing market continues to rise steadily, reaching new record levels. The average price of second-hand homes now stands at €1,816 per square metre, also up 4% on the previous month.
The Region of Murcia is now clearly leading the country in terms of price growth, followed by Cantabria, where prices rose by 19%, Andalucía with an 18.3% increase, and Asturias at 17.1%.
Across Spain, the average price of second-hand housing has reached €2,795 per square metre, the highest figure recorded since Idealista began collecting data. Over the last three months alone, prices have gone up by 4.5%, with a further 1.7% monthly increase.
The report also confirms that every autonomous community has seen prices rise compared with last year. After Murcia, the strongest increases are seen in Cantabria, Andalucía and Asturias, while more moderate growth was recorded in the Balearic Islands, the Canary Islands, Galicia and La Rioja.
Despite the sharp increases, Murcia still remains one of the more affordable property markets in Spain. Prices in the Region remain well below those in the Balearic Islands, the Community of Madrid and the Basque Country.
The city of Murcia also stands out, with prices rising 20.1% over the past year, second only to Ciudad Real. It is followed by León, Pontevedra and Salamanca.
In other major cities, growth has been slower. Valencia saw a 12% increase, while Bilbao rose 10.5%, Málaga 9.6%, Alicante 8.5%, Palma 8.3%, Madrid 7.4%, Barcelona 7.1%, and Sevilla 6.8%.
Overall, the figures continue to show the pressure building in the Murcian housing market, where demand continues to outstrip supply and push prices to levels not seen before in the Region.
Read also:Rental prices keep climbing across Murcia And Cartagena as prices approach record levels
Image: Artistic representation
Just Murcia Property has been helping people find their perfect home in Spain since 2006, building up 18 years of experience in the Region of Murcia's property market. Based in Los Belones, the agency works with buyers and renters of all nationalities, offering a personal, one-to-one service that covers everything from the initial property search right through to completion and beyond.
