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Housing prices expected to rise 2% per year by 2023

The valuation and appraisal company Euroval has released new data indicating that housing prices continue to rise at stable rates. On the upside, there is expected to be a 2% annual growth in house prices, which maintains a general upward trend.

In the report of the appraiser Projection of Average Residential Prices 2023-2025, they conclude that housing prices will moderate in the second half of the year. The upward trend in prices has been showing since 2022 in residential.

However, Euroval affirms and emphasizes that there is an inequality in the prices of the Spanish residential market. While 28 provinces are expected to exceed the forecast increase (2.01%) for the national territory as a whole, another 21 provinces are expected to fall below the maximum percentage. Only in three of them are price decreases estimated: Zamora (-0.84%), Palencia (-1.38%) and Soria (-1.40%).

According to Euroval's statistics, Guadalajara, with a percentage of 4.84%, is expected to see the highest increase in 2023. This is followed by Toledo (4.48%) and Huelva (4.04%). Madrid and Barcelona, two of Spain's main cities, will also see increases, although more moderate. It is estimated that in the capital there will be an increase of 2.17% in the price of housing, while the Catalan city will be below the average, with a 1.43% increase.

Mallorca and Malaga were two of the provinces where residential prices increased the most in 2022. This upward trend is expected to continue, although losing its strength. The former by 3.24% and the latter by 2.97%.

On the other side of the coin, up to nine provinces would present an evolution characterized by stagnation of their prices. The increase in all cases would be less than 1% and would be the following: Las Palmas, Salamanca, Badajoz, Jaén, Teruel, Ciudad Real, Córdoba, Cáceres and Ourense.

In the top five of the provinces with the highest increase would be: Guadalajara, Toledo, Huelva as already mentioned, and in fourth and fifth place Avila with 3.60% and Segovia with 3.54%.