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The Time it Takes to Sell a Home in Spain Soars

Despite the fact that over the last 2 years, the publication time of homes for sale in Spain has been decreasing, it has now increased again, to 4.7 months, up by 20% compared to the first quarter of the year, according to data from Brainsre.

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The crisis generated by Covid-19 has had a direct impact on the Spanish real estate market, both in terms of prices and in user behaviour.

In the week prior to the start of the State of Emergency, the average house price published in Spain stood at €1,760/m2, according to data from the real estate big data platform Brains RE. During the lockdown, prices dipped to €1,731/m2, which occurred during the last week of April. However, prices then started to recover, to reach €1,769/m2 in the last week of August, even exceeding their pre-Covid levels, up by 0.5%. That trend was maintained by the end of the quarter (with a very slight decline compared to the summer) and we are now waiting to find out how the second wave of the virus will impact seller behaviour.

Read the full article in Spanish.

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