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The district where house prices have risen the most in Andalucía in the last year is in Torremolinos on the Costa del Sol. It is the area of El Pinar-Palacio de Congresos, which has accumulated an increase of 37 per cent in the last twelve months, according to a report by the real estate portal Idealista. With an average value of 2,604 euros per square metre, this neighbourhood where single-family homes predominate is the fourth in the whole of Spain, tied with one in Santa Cruz de Tenerife, which has risen the most this year.
According to the Idealista study, the Cuesta de la Villa district in Santa Ursula (Santa Cruz de Tenerife) nationally leads the rise in house prices in the last year, with 42 per cent. It is followed by Centro de Santa Pola (Alicante) and Manacor Centro (Balearic Islands), both with a rise of 38 per cent. Next comes El Fraile in Arona (Santa Cruz de Tenerife) and El Pinar-Palacio de Congresos in Torremolinos, as they share a 37 per cent increase.
In sixth place is the district of Port Salvi in Sant Feliu de Guíxols (Gerona) with 36 per cent, while San Lázaro-Meixonfrio in Santiago de Compostela (La Coruña) is in seventh place with 35 per cent. To close the ranking there is a triple tie between Altavista-Titerroy-San Francisco Javier in Arrecife (Las Palmas), Perillo in Oleiros (A Coruña) and Les Clotes in Vilafranca del Penedès (Barcelona) with a year-on-year increase of 34 per cent.
In the area of El Pinar-Palacio de Congresos in Torremolinos there are currently several houses for sale for more than one million euros. The most expensive is a villa with six bedrooms which has a significant feature: it has a "bed & breakfast licence". It is being sold for 1,599,000 euros.
The Idealista report also gives details of the districts with the biggest price drops in the Spain. In this case, Pedanías Norte in Utrera (Seville) is where the price of housing has fallen the most in the last year, with a drop of 20 per cent. It is followed by Teror, in the municipality of the same name in Las Palmas, La Hoya-Daimes-El Derramador in Elche (Alicante) and Escodines in Manresa (Barcelona), which share a drop of 18 per cent.
Next comes the district of As Lagunas in Orense with a fall of 14 per cent, followed by Llevant in Terrassa (Barcelona), O Ponte in Ourense, Les Brises de Calafell-Segur de Dalt in Calafell (Tarragona) and Barrio Pinilla in Zamora, which share a drop of 13 per cent. The ranking of the districts where house prices have fallen the most is closed by Los Cigarrales-La Bastida in Toledo with 12 per cent.
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