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The Gap Between New and Second-Hand Housing Increases to Historical Highs

The difference between the prices of new and second-hand homes reached 21%, according to Brainsre, which represents an unprecedented figure in Spain. Furthermore, in some neighbourhoods of Madrid and Barcelona, the gap rose to 58% and 76%, respectively.

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The gap between the sales price of new-build and second-hand homes reached its highest figure for the last five years in the fourth quarter of 2020, with a difference of 21% across Spain as a whole. New residential assets for sale cost an average of 2,172 euros per square metre; whilst the average price of second-hand homes stood at 1,792 euros per square metre, according to data from the Brainsre real estate big data platform.

In the Community of Madrid, the difference was below the Spanish average. In this way, the price of new homes in the region amounted to €3,124/m2 in the fourth quarter; whilst the price of second-hand homes stood at €2,815/m2, equivalent to a gap of 11%.

Read the full article in Spanish.

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