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).
The TecniTasa report also reveals that house prices went up 2% last year in Marbella and Las Palmas de Gran Canaria, 4% in Mallorca, and 5% in Valencia.
Thoughts on “The cheapest and most expensive addresses in Spain: Madrid’s Calle Serrano still no.1”
At the Anchorage Club in Mallorca, 20,000 euros/m2 is a normal price on the front line, rising to 30,000 for top floor properties. At Mardavall, on the water front, between Puerto Portals and Palma Nova, similar rates can be expected.
Mark Stücklin says:
Yes, there are prices like this to be found in unique locations on the coast. The Tecnitasa report only dealt with big cities and provincial capitals, so missed places like the ones you mention.
Actually Andrew I think you will find Anchorage nearer €14,000 than 20,000, at least it was last year. Of course, the asking price is always higher than the actual sale price !