Housing prices rise across Galicia, led by Sanxenxo and Pontevedra

Housing prices in Galicia are experiencing significant shifts, with notable increases in several municipalities. Vilagarcía recorded the third-highest quarterly increase in the region at 6%, following Barreiros and Marín. Other areas seeing growth include Santiago de Compostela, Ferrol, and Pontevedra. Conversely, Ribeira saw the largest decline, dropping by 7.7%.

In Pontevedra, property prices reached an average of 2,356 euros per square meter in August, marking an annual increase of 18.5%. The rental market in the city has also seen substantial growth, with average monthly rents reaching 703 euros. High demand for rentals and social housing is outpacing available supply.

Sanxenxo remains the most expensive municipality in Galicia, with prices exceeding 3,800 euros per square meter. Across the entire region, the average price per square meter stood at 2,287 euros in September, representing a 1.2% increase over the last three months and an 11.7% increase compared to the previous year.