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House Prices Rose by 2.5% Across Spain in Q1 but Fell by 1.6% in Barcelona

Data from the appraisal company Tinsa shows that Madrid maintained its upward trend to March, whilst Barcelona registered a decrease in its house prices.

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Housing became more expensive before the Covid-19 crisis. The average price of homes in Spain increased by 2.5% during the first quarter of 2020 in year-on-year terms, to reach €1,383 per square metre. That represented a rise of 0.7% compared to the previous quarter, according to the latest Tinsa IMIE Local Markets statistics, which do not reflect the price variations caused by the on-going health emergency.

Tinsa points out that the “extreme” drop in demand and “the suspension of development activity will most likely result in house price decreases”, which will begin to be reflected in the statistics in the months ahead.

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