The average price of building land in Spanish cities has increased 38 per cent in the last year, according to data from the Ministry of Public Works (Fomento).
Building land prices in general rose 6 per cent to 150 €/m2 over 12 months to the end of March. But in cities with populations of 50,000 or more land prices jumped 38 per cent in the same period, to 304 €/m2.
Land transactions were also up in Q1, with 3,465 sales, up 4 per cent compared to the same period in 2014. Nevertheless, as the next chart shows, the land market is still a shadow of its former self.
The highest urban land prices in Spain are as follows (by province):
Madrid: 546 €/m2
Barcelona: 448 €/m2
Balearics 353 €/m2