According to the latest report, published by idealista.com, Spain’s leading real estate portal, the price of second hand property in Spain has again registered new drops during the summer. Prices are now situated on a level of 2005 in most municipalities analized by idealista.com.
Barcelona has accumulated two and a half years of consecutive price drops. With a drop of 1.3 per cent during the third trimester the price of second hand homes has dropped to 4,098 euros/m2. In Madrid second hand property has seen a 1.2 per cent drop during the third trimester and stands at 3,905 euros/m2. Valencia has seen its real estate prices drop 1.8 per cent during the same time and is currently at 2,454 euros/m2.
All of Spain’s communities have seen their real estate prices drop during the third trimester. The most important drop was registered in the Balearic islands, which saw its prices drop 3.6 per cent until 2,228 euros/m2. The Canary islands and Catalonia both registered drops of 2.4 per cent.
The full report can be downloaded on the website of idealista.com.