Madrid, Barcelona, ​​Bilbao, Málaga, Palma, Santander and Valencia are the seven Spanish cities in which you cannot buy a home in the most sought-after areas even if you win the ‘Jackpot’ in the Christmas Lottery. since the price of land for an average home in these areas exceeds 400,000 euros.

However, in another 14 cities the average price is lower than the Lottery’s ‘Gordo’, so you could access a home if you won this prize, according to a study carried out by the area. of CBRE Valuations and Appraisals.

Compared to 2018, in six cities of the 21 analyzed by CBRE in its study, the price of land has increased by more than 30%: Ceuta (64%), Valencia (53%), Santander (50%), Palma (4 6%), León (39%) and Santa Cruz de Tenerife (34%). At the opposite extreme is Toledo, where the average price has fallen by 12% in 2023 compared to 2018.

If the evolution is compared to 2022, it is observed that the price falls slightly, less than 3%, in five of the main streets analyzed in Málaga, Pamplona, ​​Murcia, Toledo and Alicante.

Madrid once again positions itself as the city with the most expensive neighborhood in Spanish territory to buy a home if you get the ‘Gordo’ for Christmas, since a 120 square meter home in the Recoletos neighborhood has an average price of 956,523 euros, almost 5% more than in 2022, and compared to 2018, the increase is 17%.

Nor could it be acquired 100% of a home in the Dreta de l’Eixample neighborhood in Barcelona, ​​since the average price of a home of the same size as in Madrid is 768,791 euros, in line with a year ago, when It stood at 764,946 euros. If compared to 2018, the increase is 22%.

Homes located in the Ciutat Antigue neighborhood (Palma de Mallorca) are also above 400,000 euros, where the current average price is around 600,917 (8%), 45% more compared to 2018; and in El Sardinero (Santander), with an average price that has grown by 12% compared to the previous year and 50% compared to 2018, up to 559,188 euros.

In the Abando-Albia neighborhood (Bilbao), the price reaches 524,673 euros (8% compared to 2022 and 10% compared to 2018); in Limonar (Málaga), the average price has fallen by 2% compared to 2022, but has grown by 25% compared to 2018, to 521,468 euros; while in L’Eixample (Valencia), it has grown 5% above 2022 and 53% compared to 2018, up to 418,975 euros.

“The purchase and sale market has been impacted in the last year by the high rise in interest rates, making it difficult to access housing. The effort rate stands at 38.9% at the end of the third quarter and is expected increase over the next year to exceed 40%,” said the senior director of CBRE’s Valuations and Appraisals Area, Pablo Carnicero.