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Second-Hand Homes Suffer a Slight Price Decrease of 0.7% in Interannual Terms in July

In Spain, second-hand house prices rose by 0.7% in July in intermonthly terms and fell by -0.7% in interannual terms, according to Fotocasa.

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The average price of second-hand housing fell by 0.7% year-on-year in July, although it increased by 0.7% compared to the previous month to reach 1,888 euros per square metre, according to Fotocasa’s Real Estate Index. That value is 38% below the average for the Community of Madrid, which amounted to 3,069 euros per square metre in July.

“The data for the month of July continues the year-on-year declines that we began to detect at the end of 2019. For the time being, Fotocasa’s Real Estate Index does not show any signs that the owners of homes for sale are lowering prices due to the coronavirus situation and in fact, asking prices have remained stable over the last few months. It is possible that after the summer we will start to see slightly more chunky price decreases, although there are not going to be significant drops in the prices of second-hand homes”, explains Anaïs López, Communication Director at Fotocasa.

Read the full article in Spanish.

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