The latest property buying and selling report from the property portal Fotocasa reveals house-hunter budgets, and vendor asking-prices.
The report shows that Spaniards who bought or attempted to buy a property over the last year had an average budget of €173,000. The figure varies depending on the region. In Madrid, it rose to an average of €212,000; in Catalonia to €206,000; in the Basque Country to €191,000; while in the Valencian Community it was lower at €146,000 and in Andalusia €126,000.
On the other hand, sellers who attempted to sell their property over the last year set an average asking price of €180,000. This too varies according to the region. In Madrid, the average rose to €226,000 and in Catalonia and the Basque Country to €220,000. In the Valencian Community €140,000 and in Andalusia, at €126,000.
The data shows the difference between the buyer’s budget and the seller’s asking price comes to 4%, although again with regional differences. The gap between buyer and seller comes to 15% in the Basque Country. In Madrid and Catalonia, asking prices are 7% higher than buyer’s budgets. In Andalusia, however, the two are the same. The Comunidad Valenciana is worth highlighting since in this region, asking prices are 4% below the average buyer’s budget.
“Catalonia, Madrid and the Basque Country are the most expensive places to buy property,” explains Beatriz Toribio, head of research at Fotocasa. “This explains why both buyers and sellers have higher budgets than the average for Spain. It also explains why 40% of buyers in the last year in Andalusia and the Valencian Community had an initial budget of between €50,000 and €100,000, virtually the same percentage of buyers in Madrid, Catalonia and the Basque Country had initial budgets of €100,000 to €200,000.”