One of the things we must consider when we're going to buy a property is its square metres. Therefore, at Property Buyers by SOMRIE we've decided to carry out an in-depth analysis on this very important matter when it comes to buying a property.
Let's start at the beginning though... what is a square metre in real estate?
A square metre is the area of a square with sides measuring 1 metre. This measurement unit is the one that's used everywhere in Spain to measure properties. However, there are 3 different types of m2 within a property.
- Metres of constructed area: this figure includes all the metres in the properties, including walls and partitions.
- Effective metres: this is the surface area of a building that can be stood upon, including the wardrobes. We could say it is the space we have to live in.
- Metres of constructed area with common elements: is the surface included in the land registry. It refers to the constructed area and includes common areas, with the proportional share added to each dwelling.
How are the square metres of a property measured?
It's best not to try to measure a property's square metres manually, the result will never match the true number of metres the house has. The best thing to do is go to the land registry and check the property's registration details.
Once we have this data we can calculate the price of the property according to its metres. We need to know how many metres it has and multiply that by the price per m2 for the area where we want to buy.
Having said that, the best thing to do is rely on professionals who know the area where they work like the palms of their hands. This is the case of the Real Estate Buyer's Agent. A buyer's agent who will carry out a detailed study of the area and of your needs.
When it comes to buying a property, especially if it's a real estate investment, we have to take into account what the price per square metre is in each Autonomous Community. Let's analyse them.
According to data from TINSA, the price per square metre in each autonomous community in Spain during the first quarter of 2019 was:
In the autonomous cities of Melilla and Ceuta in the first quarter of 2019 the price per square metre was: 1,729€/m2 and 1,715€/m2 respectively.
If you want to buy a property at the best price, either to live in or as an investment, the best thing to do is to hire a Real Estate Buyer's Agent, a professional who will search tirelessly until they find what you need and will always achieve the best price.