In October, the price of second-hand housing in Spain increased by 0.8% when compared to the previous year, and fell by 1.7% when compared to September. This puts the average price of second-hand housing at 1,859 euros p/m².
This marks the eleventh monthly fall. The most recent positive monthly variation was seen in November 2019.
“The price of second-hand housing continues to experience slight year-on-year declines, which we already started to see last December. These price drops were already a natural trend that was expected for 2020 and it is still too early to see if the crisis caused by the coronavirus is causing prices to continue to decline. At the moment, it seems that owners are not lowering prices yet, but it is possible that in the coming months we will see somewhat larger falls,” explains Anaïs López, Communication Director at fotocasa.
In Spain, 15 autonomous communities presented positive monthly data in October 2020. Four communities showing increases above 1% are: Castilla-La Mancha (4.3%), Extremadura (2.1%), Navarra (1.3%) and the Valencian Community (1.1%). They are followed by La Rioja (0.9%), Andalusia (0.8%), Region of Murcia (0.8%), Aragon (0.5%), Galicia (0.5%), Castilla y León (0.4%), Madrid (0.3%), Catalonia (0.3%), Cantabria (0.3%), the Basque Country (0.2%) and Asturias (0.1%).
The only two communities that saw a negative annual variation in October are: the Canary Islands and the Balearic Islands with -0.6% and -0.2%, respectively.
Looking at the price ranking for second-hand housing for sale by Autonomous Communities (CC.AA.) we see the most expensive are the usual suspects: Madrid and the Basque Country, with prices of 3,065 euros p/m² and 2,887 euros p/m², respectively. They are followed by the Balearic Islands with 2,788 euros p/m², Catalonia with 2,430 euros p/m², the Canary Islands with 1,751 euros p/m², Navarra with 1,743 euros p/m², Cantabria with 1,739 euros p/m², Andalusia with 1,642 euros p/m², Asturias with 1,567 euros p/m², Galicia with 1,562 euros p/m², Aragon with 1,525 euros p/m², the Valencian Community with 1,423 euros p/m², Castilla y León with 1,407 euros p/m², La Rioja with 1,399 euros p/m², Region of Murcia with 1,161 euros p/m² , Castilla-La Mancha with 1,144 euros p/m² and Extremadura with 1,128 euros p/m².
Provinces of Spain
In 67% of the 52 provinces analysed, the price of second-hand housing increased in October. The provinces with the top ten increases in the ranking are: Toledo (9.9%), Guadalajara (4.9%), Badajoz (3.4%), Ceuta (2.5%), Cuenca (1.9%) , Ciudad Real (1.9%), Seville (1.8%), Huelva (1.7%), Burgos (1.3%) and Cádiz (1.3%).
On the other hand, the ten largest monthly decreases are: Huesca (-3.3%), Soria (-1.4%), Almería (-1.1%), Jaén (-0.8%), Segovia (- 0.8%), León (-0.7%), Cáceres (-0.7%), Barcelona (-0.7%), Las Palmas (-0.6%), Santa Cruz de Tenerife (-0.5%).
Regarding prices, Gipuzkoa is the most expensive province with 3,180 euros p/m², followed by Madrid (3,065 euros p/m²) and Barcelona (2,929 euros p/m²), among others. On the other hand, the only province with a price per square meter below 1,000 euros is Ciudad Real with 991 euros p/m².