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Property Prices in Spain

The price of properties in Spain published by one of the most important portals has been at 1,696 euros per square meter in may 2020, a reduction of 1.28% compared to May 2019 and a decrease of 0.12 % compared to april 2020, according to the report on sale prices of the property portal flats.com.

The current average price per square meter in Catalonia is the fourth in Spain with 2 093 euros and in the community of Madrid at 2 621 euros per m2 the third, in Andalusia it stands at 1 614 euros per sqm. The most expensive community is the Balearic Islands with 3 159 euros per m2, and then the Basque Country with 2 734 euros per m2.

The most expensive capital in Spain is San Sebastian, at 5,037 euros per m2, then there is Barcelona € 4,502 / m2 and Madrid € 3,927 / m2.

By region, the largest increases in the price of properties in Spain compared to last year have been in the Balearic Islands (+ 3.8%), the Canary Islands (+ 2.4%) and Madrid (+ 2.4%). On the contrary, the biggest loss have been in Castilla-La Mancha (-6.0%), Murcia (-4.0%) and Andalusia (-3.8%).

According to the head of studies of the portal, Mr. Font, the interest of the demand “is not touched and sunk”, the search for housing is still in the crosshairs of profiles with savings that have maintained their source of income during these months. Potential buyers will seize the opportunity if there is a downside market. Regarding financing, the granting of mortgages has fallen not only due to the limitations in notaries and registries, but also due to the prudence that dominates the decisions of citizens at the moment.