A new study confirms that Madrid’s Calle Serrano is still the most expensive address in Spain, and also identifies the cheapest place to buy, which happens to be on the Costa del Azahar.
Residential property on Madrid’s Calle Serrano now costs 10,900 €/sqm, according to a new study of house prices in provincial capitals and big cities by TecniTasa, an appraisal firm. So Calle Serrano keeps its title as the most expensive address in Spain.
At the other end of the scale, the cheapest place to buy property in a Spanish provincial capital is in the Guinea district of Castellon de la Plana, in Valencia’s Castellon province, home to the Costa del Azahar, where housing costs just 363 €/sqm to buy.
That means that a property in Guinea costs just 3% of what it costs on Madrid’s Calle Serrano, where a flat of 100 sqm would set you back €1,090,000, compared to just €36,000 in Castellon de la Plana.
After Calle Serrano, Barcelona’s Paseo de Gracia is the second most expensive street in Spain, with an average price of 8,450 €/sqm, followed by the Libertad-Boulevard in San Sebastian (6,100 €/sqm), and Puerto Banus, Marbella, on the Costa del Sol (5,500 €/sqm).
Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on firstname.lastname@example.org.
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