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The pandemic has caused a crisis and confusion in many industries, including real estate, which has suffered from the “paralysis” of work in Spain and houses maintenance. However, more than a year has passed since the beginning of Covid-19 and the real estate market is gradually recovering.
This is evidenced by data on the purchase and sale and issuance of mortgage loans, which, despite the ups and downs, are developing positively in accordance with the state of society and the epidemiological situation.
Housing prices, on the other hand, do not follow a uniform pattern for the whole of Spain, but have their own trends depending on the city. The latest report from Idealista shows that the price of secondary houses for sale in Spain reached 1,816 euros per sq.m., an increase of 10.1% year-on-year in June.
An example of capitals having their own tone in relation to prices is that 18 of them have recorded declines over the past 12 months. There are very important housing markets among them:
- Seville (-5.6%).
- Barcelona (-4.2%).
- Bilbao (-1.8%).
- Valencia (-0.6%).
- Malaga (-0.2%).
The opposite trend is observed in capitals such as Madrid (0.8%). We find the most expensive city in Spain with the same percentage - San Sebastian, and the capital with the highest price increase of all the cities analyzed is Las Palmas de Gran Canaria with 5.2%.