The price per square metre to buy a new-build property in the Community of Madrid is €3,861, while the average price per square metre for second-hand properties is €2,941. In Barcelona city and surroundings, the average price per square metre for new construction is €4,683 and for second-hand properties is €3,432.
Madrid: 23% more expensive for new buildings
The average price per square metre of new construction in Madrid city centre is €7,581.55, while the average price of second-hand property is €5,235, which represents a difference of 30%. In Madrid Metropolitano this difference is more accentuated with a 34.67%, the average price per square metre is €4,093 for new construction and €2,674 for second hand.
The price per square metre for new construction in Madrid's municipalities is €3,029, while the second is €2,343, a difference of 22%.
Depending on the areas we focus on, the price per square metre can vary greatly, both for new and second-hand properties:
Source: Activum.co.uk a 04/2023. To elaborate the average price per m2 The main real estate portals in Spain have been taken into account.
Barcelona: 27% more expensive for new buildings
The average price per square metre of new construction in Barcelona city is €5,428, 25% higher than the average price per square metre of second-hand housing, which is €4,063/m2.
In metropolitan Barcelona, the difference between new and second-hand construction would be 29%: 3,756€/m2 in new construction and 2,676€/m2 in second-hand.
Prices, as is the case in the Community of Madrid, vary greatly depending on the areas we focus on:
Source: Activum.co.uk a 04/2023. To elaborate the average price per m2 The main real estate portals in Spain have been taken into account.
Cristina Balaguer, Managing Director of Activum Real Estate ConsultingThe report states that: "New-build properties are on average 23% more expensive in Madrid than second-hand properties, and in Barcelona this difference is even more accentuated at 27%. In smaller cities, buyers prefer new builds to second hand because of the savings on refurbishments, the quality and energy benefits or the advantages of communal areas such as swimming pools, social clubs, etc. However, in large cities, location is a decisive factor and second-hand properties play a major role in buyer preferences.
