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Pandemic Lowers Prices in Madrid and Barcelona While Increasing Them in Medium-Sized Cities

After a year of the pandemic, housing prices in Spain's municipalities have experienced very uneven behaviour, with drops in large cities such as Madrid and Barcelona and increases in Palma de Mallorca, Gijón and Las Palmas.

The pandemic has affected housing prices unevenly, not only by type but also by population. Data obtained in the first three months of the year already allow a quarterly and year-on-year comparison of the impact of the coronavirus since it began.

In general terms, the average sales price of homes in Spain reached 1,789 euros per square metre in the first quarter of 2021, according to data compiled by the big data real estate platform Brainsre. In this period, the average sale price reached 261,085 euros.

The figures represent a quarterly growth of 0.22% and a year-on-year growth of 1.01% compared to the same quarter in 2020.

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