The price of used housing falls 0.3% in April in the midst of the coronavirus crisis

The price of re-sales in Spain registered a decrease of 0.3% during April, standing at 1,753 euros / m2, according to the latest idealista property price index. If we look at the data for April 2019, there is a year-on-year rise of 2.6%. Prices in the two large residential markets by city grew slightly compared to March, with Barcelona (1.1%) and Madrid (0.6%) in full 'coronavirus effect'.

Autonomous communities

The price has been reduced within seven autonomies. Extremadura (-0.6%), Andalusia and Galicia (-0.4% in both cases) lead the declines. They are followed by falls in Asturias (-0.3%), Catalonia and Cantabria (-0.2% in both cases) and Castilla-La Mancha (-0.1%). Prices remained stable during the month of April in Castilla y León and the Community of Madrid. On the other hand, the greatest increase was recorded in La Rioja (0.8%) and the Balearic Islands (0.5%), followed by Aragon and the Basque Country (0.4% in both regions).

CCAA - Price increases April 2020 Monthly change Annual change

La Rioja 1,202 euros / m2 0.8% 1.1%

Balearic Islands 2,803 euros / m2 0.5% 4.8%

Basque Country 2,608 euros / m2 0.4% 2.1%

Balearic Islands with 3,089 euros / m2 is the most expensive autonomy, marking its highest price in the historical series. They are followed by the Community of Madrid (2,803 euros / m2) and the Basque Country (2,608 euros / m2). On the opposite side of the table we find Castilla-La Mancha (870 euros / m2), Extremadura (903 euros / m2) and the Region of Murcia (1,056 euros / m2), which are the cheapest communities.

CCAA - Price decreases April 2020 Monthly variation Annual variation

Extremadura 903 euros / m2 -0.6% 1.2%

Andalusia 1,646 euros / m2 -0.4% 7.0%

Galicia 1,353 euros / m2 -0.4% -1.2%

Provinces

27 provinces register higher prices than a month ago. The greatest increase has been experienced in the province of Soria (2.9%), Huesca (1.8%), Teruel (1.1%), La Rioja and Alicante (0.8% in both cases). In Granada, Tarragona, Álava, Burgos and Madrid the price remained unchanged. On the other hand, the biggest drop has occurred in Cuenca, where owners request 1.3% less for their homes. It is followed by the provinces of Palencia (-1%), Lugo, Badajoz and Cáceres (-0.6% in the three provinces).

Province - Price increases April 2020 Monthly change Annual change

Soria 1,006 euros / m2 2.9% 2.1%

Huesca 1,426 euros / m2 1.8% 5.1%

Teruel 884 euros / m2 1.1% 3.7%

The ranking of the most expensive provinces is led by the Balearic Islands with 3,089 euros / m2. In second position is Guipúzcoa (2,994 euros / m2) and then Madrid (2,803 euros / m2). Cuenca is the cheapest province with a price of 763 euros for each square meter. They are followed by Toledo (778 euros / m2) and Ciudad Real (790 euros / m2).

We are also re-opening real estate offices, from the 4th May visits to Real Estate Agencies can be done prior obtained appointment, you will not be able to just walk in from the street.

For any further clarification, please do contact us on johanna@comparepropertiesspain.com

Kindest regards as always,

Johanna Whittaker, CEO and Managing Director, Compare Properties Spain.