If you live in Madrid or Barcelona and want to buy a home, you will already know that prices in those cities are skyrocketing: a decent apartment will cost you around 300,000 euros or more in many neighborhoods. However, the situation is very different in the provinces of emptied Spain, where you can buy a good-sized property for less than 100,000 euros.

Noting these differences, from HelpMyCash we wanted to develop a kind of map to show you how much it costs to buy a home in all the provinces of Spain. In this article you will see what is the average price of a flat or house of 80 square meters in each province, taxes included, and you will discover why in certain areas real estate is so expensive and why they are so cheap in others.

Average price per province of a new apartment of 80 square meters

Let’s say, for example, that what you want to buy is a new house of 80 square meters. The provinces in which the operation would cost you more money, on average, are Guipúzcoa, the Balearic Islands and Vizcaya. On the other hand, in which you would pay less are Cuenca, Ciudad Real and Jaén. Here we leave you the complete table with the prices of all the regions, ordered from highest to lowest:

Source: own elaboration with data from the College of Registrars of Spain and the web pages of the Autonomous Communities.

Average price per province of a used apartment or house of 80 square meters

If you are looking for a second-hand house or apartment of 80 square meters, the provinces in which you would pay more money are Guipúzcoa, Madrid and the Balearic Islands. On the contrary, the cheapest are Ciudad Real, Teruel and Cuenca. You can check it in this table, in which we show the prices by province ordered by wholesale to lowest:

Source: own elaboration with data from the College of Registrars of Spain and the web pages of the Autonomous Communities.

Madrid vs. Barcelona: where is it more expensive to buy a property?

In the tables it is quite clear, but it is worth dedicating a separate chapter to the provinces of Madrid and Barcelona, given their economic importance and their large population. On average, a new home of 80 square meters costs 4% more in the capital of Spain and surroundings than in the province of Barcelona. A second-hand one is also more expensive in Madrid: 15% more.

This difference is striking, since in the Community of Madrid much less taxes are charged than in the province of Barcelona. To give you an idea, this is what you have to pay in taxes in each region:

Source: official websites of the Community of Madrid and Catalonia

The price of housing, however, is significantly higher in the province of Madrid, which means that the total bill for buying a house or a flat is higher than in Barcelona. This higher cost can be explained by Madrid’s higher population density (which limits supply and increases demand), by its higher average income and by the attraction of investments generated by the capital effect and tax incentives.

Why does it cost so much more to buy a home in urban and tourist areas?

And now comes the million-dollar question: why does it cost so much money to buy a flat or a house in areas such as the Basque Country, the Balearic Islands or Madrid and so little in regions of emptied Spain such as the Castillas or northern Andalusia? For example, a new house of 80 square meters costs up to seven times more in Guipúzcoa than in Cuenca; an abysmal difference.

From HelpMyCash we believe that it is due, in large part, to the following:

• To the economic situation of each province. Rent in Guipúzcoa, Barcelona or Navarra, for example, is higher than in the regions of Emptied Spain. Therefore, it makes sense that it is more expensive to buy a home there, since its inhabitants can pay higher prices and there is more room for them to rise.
• To population density. For example, in the province of Madrid more than six million people live in a smaller area than Ciudad Real, whose number of inhabitants does not reach 500,000. This causes, among other things, that there is much more demand in the region of the capital of Spain, which explains, in part, that there prices are much higher.
• To the tourist potential. The demand in provinces such as the Balearic Islands, Malaga or Alicante is very high, because there are many people (national and foreign) interested in residing in these regions during holiday periods or on a regular basis. It is normal, therefore, that prices in these areas are higher than in others with less tourism.

Wherever you’re from, find the best mortgage with HelpMyCash

Whatever the province in which you want to settle, from HelpMyCash we can help you get the best mortgage to buy your future home. If you want to know which banks offer the most attractive conditions, you can take a look at our ranking, where you will find the cheapest mortgage loans at fixed, variable and mixed rates:

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