Spain’s luxury property prices increased by 1.5% in 2019 to €6,900 per square metre on average, according to Barnes Real Estate Agency. In some areas, such as in parts of Madrid, Valencia and Sevilla, prices rose by 3% to more than €8,000 per square metre.
The increases were mainly due to the stable economy, policies implemented by the European Central Bank (ECB) and the evolution of exchange rates.
Nevertheless, the length of time it took to sell a house rose from 4 to 5 months in 2019. The majority of houses sold cost between €500,000 and €2.5 million with buyers being predominantly Spanish.