Spain’s Uneven Housing Recovery

Spain’s housing recovery has been well under way since late 2014, with prices up 34% in Barcelona and 27% in Madrid. The recovery is spreading to coastal towns, with prices in Málaga and Mallorca up 26 and 32% respectively. While for all of Spain prices are up 19% since late 2014, the average is pulled up by these star performers, while other regions recover more gradually or even continue to decline.

The map below shows the change in price between late 2014 and the end of 2018. Mouse over the provinces to see the actual numbers

The recovery since 2014 masks the massive drop in prices since 2005. The map below shows where prices were at the end of 2018 compared to the beginning of 2005. Most regions are still below their nominal 2005 values, with Guadalajara still 44% below, with the Balearic Islands being the best performer by managing to eke out a 7% gain. Adjusting for inflation, every region is well below its 2005 value. Mouse over the provinces to see the actual numbers

To put the extent of the bubble into perspective, use the slider on the map below to see how prices inflated until 2008 and then crashed spectacularly for the next six years with a gradual recovery in place since 2014 in some regions.

Price change by province shown in table form below. Percentages shown are price changes since Q1 2005, Q3 2014 and Q1 2017 each to Q4 2018. More granular price change by municipality shown below this table

Price Changes by Province

ProvinceSince 2005 %Since 2014 %Since 2017 %
A Coruña-9.058.574.96
Albacete-22.5111.136.07
Alicante-27.7711.7110.31
Almería-26.936.295.46
Asturias-20.22-2.352.04
Badajoz-8.1411.187.19
Baleares7.1528.6319.53
Barcelona-4.8637.5620.68
Burgos-34.25-3.424.93
Cantabria-19.290.365.6
Castellón-37.42-0.753.45
Ceuta25.71-6.18-3.08
Ciudad Real-23.13-1.192.92
Cuenca-27.161.256.23
Cáceres-13.86-2.576.78
Cádiz-19.162.65.03
Córdoba-20.2-6.343.49
Girona-2213.7710.93
Granada-9.4511.3213.04
Guadalajara-44.5213.658.66
Guipúzcoa-0.473.978.3
Huelva-23.55-4.287.08
Huesca-28.319.257.82
Jaén-12.41-3.43.13
La Rioja-40.78-0.726
Las Palmas-16.1511.475.14
León-19.6-2.794.52
Lleida-35.71-4.828.88
Lugo-2.262.685.88
Madrid-10.930.217.11
Melilla46.9915.286.28
Murcia-29.560.646.23
Málaga-12.6128.8817.27
Navarra-29.67.25.84
Ourense-13.53-12.723.1
Palencia-8.03-0.099.86
Pontevedra-15.862.143.44
Salamanca-21.720.56-4.13
Santa Cruz de Tenerife-14.8625.0513.7
Segovia-35.25-6.061.57
Sevilla-11.365.768.88
Soria-28.18-4.930.57
Tarragona-25.919.1310.95
Teruel-32.58-4.298.86
Toledo-37.97.8910.86
Valencia-22.7911.939.99
Valladolid-23.780.746.39
Vizcaya-13.67-4.831.79
Zamora-14.33-2.835.24
Zaragoza-30.4915.7816.1
Álava-25.78-19.274.18
Ávila-36.22-0.513.36
Price Changes by Province since Q1 2005, Q3 2014 and Q1 2017

Price changes from Q3 2014 – Q4 2018 for municipalities with a population greater than 25,000 are shown below. To choose other time periods click the layers icon towards the right of the map. Mouse over the municipalities to see details

Price change by municipality shown in table form below. Percentages shown are price changes since Q1 2005, Q3 2014 and Q1 2017 each to Q4 2018.

MunicipalityChange2005PctChange2014PctChange2017Pct
Adeje-4.1748.7716.23
Agüimes-17.2919.6412.88
Alaquàs-30.644.90.45
Albacete-25.7113.296.46
Alcalá de Guadaíra-22.15.337.25
Alcalá de Henares-32.3227.3515.36
Alcantarilla-34.94-10.11-1.51
Alcobendas-15.2711.9517.13
Alcorcón-27.3231.7211.67
Alcoy/Alcoi-24.11-5.826.96
Alcázar de San Juan-15.08-1.45-1.42
Aldaia-23.59-2.31-2.44
Algeciras-23.168.5911.72
Algemesí-21.13-2.052.12
Alhaurín de la Torre-26.7121.113.98
Alicante/Alacant-23.735.66.03
Almansa-9.786.314.57
Almendralejo-2.367.1911.3
Almería-23.450.63.08
Alzira-28.244.6910.62
Andújar-1.054.37.82
Antequera-24.565.41-2.42
Aranda de Duero-22.841.394.95
Aranjuez-40.218.3911.78
Arcos de la frontera-19.010.0417.27
Arganda del Rey-30.6414.9418.74
Arona-8.3445.0825.2
Arrecife-20.8128.9820.64
Arteixo-18.796.5911.92
Arucas-25.811.8514.18
Avilés-16.33-10.02-7.28
Badajoz-7.284.487.19
Badalona-22.2324.9818.82
Barakaldo-21.79-4.486.93
Barberà del Vallès-17.0421.9316.69
Barcelona13.0239.8717.93
Basauri-24.92-0.41-1.74
Benalmádena-16.4346.4125.85
Benidorm-13.5613.8720.36
Bilbao-11.670.23.68
Blanes-28.717.644.65
Boadilla del Monte-1.6134.3917.33
Burgos-32.40.426.32
Burjassot-29.946.421.59
Burriana-37.35-0.56-1.33
Calpe/Calp-15.4418.343.84
Calvià13.326.977.52
Camargo-26.813.83-2.41
Camas-26.94-2.593.34
Cambrils-12.0710.2810.79
Caravaca de la Cruz-28.5-3.36-7
Carballo9.237.87.17
Carmona-6.08-2.530.98
Cartagena-36.88-5.034.4
Castelldefels7.4144.1124.72
Castellón de la Plana-39.67-4.093.38
Castro-Urdiales-25.582.863.25
Cerdanyola del Vallès-13.9828.4114.51
Ceuta25.71-6.18-3.08
Chiclana de la Frontera-28.851.9410.16
Cieza-19.07-4.3311.1
Ciudad Real-34.444.66-0.25
Ciutadella de Menorca-2.3928.7223.01
Collado Villalba-35.622.4715
Colmenar Viejo-28.2823.4217.97
Coria del Río-28.235.775.12
Cornellà de Llobregat-20.737.0725.67
Coruña (A)-3.9912.188.75
Coslada-31.4924.0419.77
Crevillent-24.296.84.03
Cuenca-27.161.256.23
Culleredo-10.566.657.19
Cáceres-13.94-3.116.71
Cádiz-1.335.556.49
Córdoba-18.61-6.741.77
Don Benito7.543.1111.18
Dos Hermanas-17.097.9517.29
Durango-7.525.189.58
Dénia-22.1226.6610.81
Eibar-25.8-19.56-0.53
Eivissa64.6248.6530.36
Ejido (El)-21.94-1.965.49
Elche/Elx-19.2919.069.16
Elda-32.08-2.2510.53
Errenteria-18.936.739.48
Esplugues de Llobregat-1540.2420.38
Estepona-28.5226.1913.57
Ferrol-35.24-9.183.16
Figueres-26.795.279.09
Fuengirola-3.3440.5920.1
Fuenlabrada-27.6829.7319.94
Galapagar-27.7426.2123.32
Galdakao-20.252.98-4.38
Gandia-29.332.969.85
Gavà-13.7627.413.55
Getafe-29.6230.422.49
Getxo-6.86-0.492.39
Gijón-19.7-1.145.58
Girona-18.5915.0311.45
Granada-6.0913.2514.44
Granadilla de Abona-19.3348.4819.5
Granollers-24.849.039.87
Guadalajara-44.5213.658.66
Hellín-11.785.96-1.7
Hospitalet de Llobregat (L')-24.8749.8225.68
Huelva-23.55-4.287.08
Huesca-28.319.257.82
Igualada-30.679.698.13
Inca-12.9828.5114.88
Ingenio-27.934.65.43
Irun-22.46-6.962.39
Jaén-17.39-3.74-0.59
Jerez de la Frontera-23.71-5.973.07
Jumilla-27.166.383.16
Jávea/Xábia-18.8526.8115.7
Langreo-15.8-8.3-1.87
Leganés-28.142819.6
Leioa-15.080.852.38
León-18.91-7.876.72
Linares-9.31-8.835.57
Lleida-35.71-4.828.88
Lloret de Mar-3.5924.2117.15
Llucmajor-5.1614.4218.21
Logroño-40.78-0.726
Lorca-29.82-1.958.31
Lucena-36.78-1.75.09
Lugo-2.262.685.88
Línea de la Concepción (La)-32.471.682.4
Madrid-7.1530.8517.03
Mahón-27.671.19.97
Mairena del Aljarafe-8.9823.1711.65
Majadahonda-1.231.618.54
Manacor-11.5710.347.5
Manises-32.38-3.1912.16
Manresa-34.63-2.59-1.29
Marbella-3.521.5714.67
Marratxí5.2539.1624.1
Martorell-17.118.2924.47
Marín-11.73-1.04-2.19
Mataró-22.0732.2620.1
Mazarrón-29.7411.2913.46
Melilla46.9915.286.28
Mieres-24.59-18.08-6.97
Mijas-24.5944.8819.3
Miranda de Ebro-40.44-17.74-0.49
Mislata-23.7210.626.41
Molina de Segura-25.633.2710.32
Mollet del Vallès-20.4718.2820.51
Montcada i Reixac-18.4129.0627.31
Morón de la Frontera-14.940.618.32
Motril-23.01-0.9511.08
Murcia-23.93.036.76
Málaga-8.728.6819.23
Mérida-14.30.134.57
Móstoles-28.9333.9721.34
Narón-35.79-17.81-5.67
Novelda-25.96-5.166.74
Oleiros4.6520.4418.32
Oliva-20.86-0.7410.14
Olot-23.535.088.35
Ontinyent-9.6812.655.69
Orihuela-34.412.416.12
Orotava (La)-19.816.3411.65
Ourense-13.53-12.613.1
Oviedo-23.45-5.780.47
Palacios y Villafranca (Los)-6.50.725.85
Palencia-8.03-0.099.86
Palma de Mallorca2.0536.8724.6
Palmas de Gran Canaria (Las)-8.658.351.69
Pamplona/Iruña-27.327.798.74
Parla-41.4234.8322.29
Paterna-25.228.448.14
Petrer-31.52-7.13-0.15
Pinto-30.5318.1219.87
Plasencia-10.858.4613.26
Ponferrada-26.51-3.11-5.63
Pontevedra-22.02-5.74-4.69
Portugalete-20.88-4.78-1.03
Pozuelo de Alarcón-0.9930.2116.25
Prat de Llobregat (El)-1.9335.837.06
Premià de Mar-13.6824.2110.65
Puente Génil-6.411.076.18
Puerto Real-13.034.951.54
Puerto de Santa María-15.3411.9413.29
Puerto de la Cruz-15.0412.28.7
Puerto del Rosario-34.8114.5811.43
Puertollano-25.41-16.61-5.82
Quart de Poblet-25.45-3.749.32
Realejos (Los)-30.96.4910.05
Redondela-19.340.45-0.16
Reus-35.324.555.59
Ribeira-6.6911.315.27
Rinconada (La)-12.245.272.03
Rincón de la Victoria-13.9244.2820.44
Ripollet-17.5126.8518.79
Rivas-Vaciamadrid-16.9223.5615.99
Ronda-17.614.492.11
Roquetas de Mar-32.9117.568.19
Rota-14.4213.9515.04
Rozas de Madrid (Las)-336.2127.21
Rubí-23.3729.2720.4
Sabadell-21.723225.78
Sagunto/Sagunt-28.28-0.64-1.31
Salamanca-21.720.56-4.13
Salt-37.6515.598.77
San Andrés del Rabanedo-15.697.890.64
San Bartolomé de Tirajana-7.5918.712.01
San Cristóbal Laguna-17.3716.5513.03
San Fernando-18.713.91-1.01
San Fernando de Henares-30.4420.5616.91
San Javier-35.413.76.26
San Roque-24.932.12-8.15
San Sebastián de los Reyes-22.3129.323.73
San Sebastián/Donostia4.413.859.27
San Vicente del Raspeig-23.439.3713.44
Sanlúcar de Barrameda-22.912.850.3
Sant Adrià de Besòs-16.224.4116.68
Sant Boi de Llobregat-15.7631.3516.15
Sant Cugat del Vallès20.236.1215.83
Sant Feliu de Llobregat-14.6923.7518.76
Sant Joan Despí-0.437.8426.78
Sant Pere de Ribes-21.591.465.7
Sant Vicenç dels Horts-13.7423.5516.9
Santa Coloma Gramanet-30.7726.8521.72
Santa Cruz deTenerife-15.789.439.36
Santa Eulalia del Río41.6737.9817.38
Santa Lucía de Tirajana-23.5618.6812.22
Santa Pola-22.812.2517.54
Santander-13.26-1.186.92
Santiago de Compostela14.671.971.78
Santurtzi-18.3-5.213.48
Segovia-35.25-6.061.57
Sestao-26.43.393.7
Sevilla-7.876.089.82
Siero-19.14.078.17
Soria-28.18-4.930.57
Sueca-20.196.92-0.68
Talavera de la Reina-49.76-7.866.77
Tarragona-29.774.5714.22
Telde-22.486.523.67
Terrassa-28.2325.6321.18
Teruel-32.58-4.298.86
Toledo-32.473.668.7
Tomelloso-19.243.356.8
Torre-Pacheco-35.320.417.67
Torrejón de Ardoz-27.6939.7522.76
Torrelavega-30.79-0.693.5
Torremolinos-13.0434.6421.54
Torrent-29.078.517.93
Torrevieja-38.5914.127.89
Tortosa-24.764.374.8
Totana-27.95-8.458.09
Tres Cantos-9.4735.1722.23
Tudela-21.739.9310.09
Utrera-21.36-2.942.46
Valdemoro-28.4130.9820.43
Valdepeñas-13.12-18.86-6.44
Valencia-17.2417.1613.36
Vall d'Uixó (la)-37.99.649.5
Valladolid-23.780.746.39
Vendrell (El)-25.3313.0811.62
Vic-26.838.2310.54
Vigo-15.077.735.67
Viladecans-11.8831.9922.18
Vilafranca del Penedès-27.320.8914.36
Vilagarcía de Arousa-5.212.8712.88
Vilanova i la Geltrú-18.1322.2420.38
Villajoyosa/Vila Joiosa (La)-26.638.526.96
Villarreal/Vila-real-38.150.61.69
Villarrobledo-27.24-0.62.19
Villaviciosa de Odón-12.3822.9518.23
Villena-30.95-7.69-3.29
Vinaròs-19.4411.053.06
Vitoria-25.789.954.18
Vélez Málaga-19.5629.159.9
Xirivella-37.13.98.65
Xàtiva-21.44-5.7-0.31
Yecla-27.199.882.6
Zamora-14.33-2.835.24
Zaragoza-30.4915.7816.1
Águilas-35.99-7.44-2.58
Ávila-36.22-0.513.36
Écija-9.643.390.3
Úbeda0.930.413.87

The price changes for major cities compared to the country as a whole are plotted below

All data taken from Ministerio de Fomento (http://www.fomento.gob.es/BE2/?nivel=2&orden=35000000). Visuals produced using python – folium, geopandas and matplotlib.

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