Madrid’s House Prices Rise 24% as Real Estate Crunch Deepens

Housing prices in Madrid soared the most on record in April, underlining Spain’s deepening residential real estate crisis.

Asking prices for houses increased 24.3% from a year earlier, to reach an average €5,467/square meter ($6,203/square meter), according to Idealista.com, a real estate listings website. The Spanish capital has become the second most expensive city in the country.