The price of second-hand homes in Spain has reached an all-time high, new figures show.

According to property portal Idealista, prices in July rose by 13.1% year-on-year to reach an average of €2,933 per square metre.

Andalucia also continued its strong upward trend, with prices surging by 10.8% year-on-year to an average of €2,925 per square metre, placing the region just below the €3,000 mark.

The report found that asking prices increased in every autonomous community compared with a year ago.

Cantabria recorded the sharpest rise at 18.2%, followed by Castilla-La Mancha (16.1%), Asturias (15.4%), Aragon (14.7%) and Murcia (14.5%).

Andalucia’s increase of 10.8% was below the national average but still marked another record high for the region.

Among Spain’s provinces, Malaga remains one of the country’s most expensive housing markets, with average asking prices reaching €4,272 per square metre, behind only the Balearic Islands, Madrid and Guipuzcoa.

Sevilla was also among the fastest-rising provinces, with prices climbing 17.1% over the past 12 months, while Cadiz recorded an annual increase of 11.1% and Almeria surged by 17%.

In the provincial capitals, Malaga city saw prices rise by 6.9% year-on-year, while Sevilla increased by 10.4% and Cadiz by 8.1%.

Across Spain’s largest cities, Madrid recorded the smallest increase at 3.1%.

According to Idealista, the latest figures represent the highest asking prices ever recorded since it began tracking Spain’s housing market.

Read more Andalucia news at the Spanish Eye.