Redaccion
The sale of homes reached 716,183 transactions in 2024, representing an 11.5% increase compared to the previous year, with the price rising to 1,753 euros per square meter, a price increase of 6.9%.
These figures were released on Thursday by the General Council of Notaries, showing a reversal of the real estate activity decline observed in 2023, which had paused the recovery seen in 2022 and 2021, with 73,622 more real estate transactions in 2024 than the year before.
By housing type, apartment sales increased by 11.4% annually, reaching 550,753 units. Single-family homes had a similar performance, with an 11.6% annual increase, reaching 165,430 units.
Recoletos, Castellana, and Jerónimos neighborhoods, the most expensive in Madrid
Apartment prices rose by 7.8% compared to 2023, reaching 1,972 euros per square meter, while the price of single-family homes averaged 1,343 euros, reflecting a 4.3% increase.
Prices on the Rise
Home sales in 2024 increased in 16 regions, which accounted for 98.9% of transactions, with only a decrease in Navarra (-0.3%). The increase was in double digits in La Rioja (24.6%), Asturias (20.3%), Cantabria (18.5%), Galicia (17.6%), Basque Country (17.6%), Castilla-La Mancha (16.7%), Extremadura (15.3%), Madrid (14.7%), Castilla y León (13.8%), and Catalonia (11.6%).
While Andalusia (9.8%), Aragon (9.7%), Murcia (9.3%), Valencian Community (8.7%), Canary Islands (3.4%), and Balearic Islands (0.6%) experienced less pronounced increases.
Similarly, all regions saw price increases, except Navarra, where costs dropped by an average of 0.9%. On the other end, the most significant price increases were recorded in the Balearic Islands and Cantabria with 15.2% and 11.0%, respectively.
Home prices break records, surpassing 2,100 euros/m2
In Galicia (9.7%), Madrid (8.6%), Andalusia (8.1%), Valencian Community (7.9%), Aragon (7.3%), Castilla y León (6.3%), Canary Islands (5.9%), Catalonia (5.6%), La Rioja (5%), Extremadura (4%), Murcia (3.6%), Basque Country (3.3%), Asturias (3.1%), and Castilla-La Mancha (2%), more modest increases were observed.
Prices per square meter exceeded the national average of 1,753 in the Balearic Islands (3,671), Madrid (3,009), Basque Country (2,688), Catalonia (2,125), and Canary Islands (1,928), according to notary data.
