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Majadahonda, Boadilla and Rivas Report Soaring Housing Prices Due to Pandemic

The Covid-19 crisis has led to falling housing prices in Madrid and Barcelona, according to Gloval. At the same time, costs in peripheral municipalities have risen by up to 13%.

Covid-19 has caused a moderate retreat in housing prices. According to the valuation firm Gloval, the fall reached 3.3% and 2.2% in Madrid and Barcelona in the last year up to March.

In the case of metropolitan areas, changes in both cities have been uneven. House prices in Madrid rose by 1.5% while falling slightly in Barcelona (-0.4%).

Barcelona reported an average price of 2,367 euros per square metre. According to Gloval, “As in Madrid, [Barcelona] has undergone changes with increases in some municipalities, although the general average adjustment has been downwards.” The average price in the city centre reached €3,485/m2.

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