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Valencia outperforms Barca and Madrid

Valencia outperforms Barca and Madrid

Tuesday, 18 July 2006 12:00 AM

The housing market in Valencia is outperforming that of Barcelona and Madrid, according to new figures.

The price of second hand homes in Spain's third largest city grew by 6.1 per cent in the second quarter of 2006, compared to 3.7 per cent in the first quarter of the year.

The average asking price in the city - at ?2,761 per square metre - is still well below that of Barcelona and Madrid, but is growing more quickly, a report by Idealista shows.

The housing market in Barcelona slowed in the second quarter of the year, with growth falling from 4.3 per cent to 2.1 per cent.

The average price per square metre is currently ?4,791 in Catalonia's largest city, which is still higher than Madrid's average of ?4,221.

House prices in Spain's capital grew by two per cent in the second quarter of the year, but there was variation within the city with the Carabanchel district seeing increases of 6.5 per cent.

In Valencia both the Quatre Carreres and Extramurs enjoyed double-digit growth of 11.9 per cent and 10.3 per cent during the quarter.

In Barcelona Sants Montjuic led the way with increases of 5.6 per cent.

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