If we were to put a price on our residential park it could be valued at 4,1 billion euros. This means that if, hypothetically, someone wished to purchase all the houses in our national territory, this is the amount that the investment would cost. This figure has been calculated by the real estate portal Idealista and has based it on housing in its database as well as on catastral data. This information does not only quantify the value of our residential park, but it also allows us to draw conclusions about the value of housing in Spain. The first thing that draws our attention is that the figure of 4,1 billion euros nearly quadruples our gross domestic product which is estimated to be 1,2 billion euros. These facts and figures confirm that housing is one of the great assets, if not the greatest of all, of the patrimony of Spanish people. It seems clear that investing in real estate continues to be one of the main driving forces of our economy, in spite of the difficult times we are living through because of the coronavirus. Not long ago in this blog, we wrote an article about how in Spain real estate investment would increase in 2021. This estimation confirms that our real estate system continues to be solid even in these delicate times. The research carried out by Idealista helps us to get an idea about the current real estate sector in our economy. Let us take a look at it in detail.

FIGURES FOR COMMUNITIES AND PROVINCES

Catalonia boasts the residential park of highest value in our country. It is calculated that housing there reaches a value of 791.000 million euros. Following very closely comes Madrid with a residential park reaching a value of 719.000 million euros. Next comes Andalusia with a value of 619.000 million euros, and in fourth place and farther apart, comes the Community of Valencia with 419.000 million euros. The fifth community with the highest value, regarding its residential park, is The Basque Country with 258.000 million euros and being far behind the preceding one. These figures confirm that Barcelona and Madrid continue to be the most expensive residential destinations in our country. However, if we only take a look at the provinces, then Madrid is the most prominent because its 719.000 million euros is far ahead of Barcelona with its 595.000 million euros being the second province with the highest value regarding its residential park. It attracts our attention that the third province is Málaga with 199.000 million euros, being far from Barcelona and extremely far from Madrid. The first five places are completed by Alicante with 189.000 million euros and Valencia with 185.000 million euros.

THE RESIDENTIAL PARK IN OUR CITIES

When we only look at cities, Madrid has, undoubtedly, the residential park with the highest value being estimated at 430.000 million euros. The city of Barcelona, although it stands second place, is far behind with 250.000 million euros. The third city is Valencia with 72.000 million euros, the fourth is Seville 58.000 million euros and the fifth is Málaga with 51.300 million euros. An outstanding and striking case is Pozuelo de Alarcón: we already wrote an article in this blog about it being a very highly demanded real estate destination, and according to the research we have mentioned, its residential park is valued at 16.500 million euros.