Las cinco capitales españolas que registran precios máximos en venta y alquiler de vivienda

Prices in San Sebastián, Madrid, Málaga, Palma and Santa Cruz de Tenerife hit their ceiling in August both in sales and rentals

The price of housing for sale continues its upward path after the 7.2% increase recorded in August, reaching 2,004 euros/m2 on the national average. This price is still 5.3% below the historical maximum price of housing in Spain.

Meanwhile, the average price of rental homes reaches 12 euros/m2/month for the first time in our country, the highest in the historical series published monthly by Idealista, after the year-on-year increase registered in August of 9.5%. And up to five Spanish capitals are currently sharing maximum prices both in the supply of homes for sale and for rent. They are San Sebastián, Madrid, Málaga, Palma and Santa Cruz de Tenerife.

In fact, 25 provincial capitals have hit a ceiling in rental prices during August, while in the purchase and sale market there are 'only' eight capitals at peaks, and of which these five cities coincide.

San Sebastián is the one with the highest average price of housing for sale in this 'top 5' with 5,326 euros/m2, ahead of Madrid (4,015 euros/m2) and Palma (3,863 euros/m2). Behind them are Málaga (2,594 euros/m2) and Santa Cruz de Tenerife (1,888 euros/m2).

However, it is Santa Cruz that has seen prices increase the most in the last year, with an increase of 17.7%, ahead of the 13.7% registered in Malaga, or 13.2% in Palma.

San Sebastián (3.6%) and Madrid (3.1%) recorded softer increases, but they have been accumulating increases since the end of the pandemic and the economic crisis.

In 2018, the capital already broke the price barrier that marked the previous real estate boom. The trail of growth continued until the outbreak of the pandemic. After the worst of the confinement, at the end of 2020 prices moderated a little, but since mid-2021, house prices for sale in the capital have not stopped rising and since last June they have already exceeded 4,000 euros/m2.