Housing prices drop moderately by 2.3% in Catalonia

The Housing Prices continue to decrease but in a smaller pace. Housing prices in Catalonia have dropped by 2.3% compared to last year. In the Spanish state, a drop of 3.6% was recorded.


July 16, 2010 10:21 PM

Madrid (CNA).- Buying a house in Catalonia was 2.3% less expensive during the 2nd trimester than it was just 1 year ago, according to date published by the Housing Prices Index of the Spanish Ministry of Housing. Despite the fact that negative numbers have been registered for the 11th trimester in a row, this could suggest a change of tendency and consolidates a moderation of the slope. Thus, the -2.3% registered this trimester follows -3.6% registered in the first trimester of 2010 and -8.3% registered in the 3rd trimester of 2009. In the whole of Spain, the price of housing has also fallen by 3.6%, marking the first time that Catalonia had recorded a drop below the Spanish average.
The price of housing has moderated its fall dropping by 2.3% compared to the 2nd trimester of 2009 but increased compared to last semester by a shy 0.3%. The current behaviour of housing prices is far from what it has been in 2009’s semesters, when drops of -13.7%, -13.3%, and -8.3% were registered, and in 2008, when a 10% drop was registered right at the beginning of the economic crisis.

Barcelona, the 2nd most expensive city in Spain

In cities of more than 25,000 inhabitants, Barcelona comes in 2nd for most expensive flats in Spain. In the 2nd trimester of this year, average free market housing could be bought at 3,418 euros per square metre. For houses that are less than 2 years old, the prices were more expensive, at 4,197 euros.

Before the Catalan capital, San Sebastián (in the Basque Country) recorded free market housing prices at 3,680 euros per square metre and 4,230 for newer houses. Madrid recorded numbers of 3,275 and 3,338 euros respectively.

The second most expensive city in Catalonia continues being Sant Cugat del Vallès, with prices of 3,351 euros per square metre, followed by d'Esplugues de Llobregat (3,034 euros); Sant Joan Despí (2,970 euros), Castelldefels (2,953 euros), Girona (2,341 euros), Tarragona (1,931 euros) and Lleida (1,580 euros).

Social housing prices, 3.2% more expensive

Social housing was recorded at 1,270 euros during the 2nd trimester, 3.2% more expensive than in the same period last year and 1.6% more expensive compared to the 1st trimester of the year.

The Spanish state

The Housing Prices Index of the Spanish state has fallen in its 2nd trimester by 3.6% compared to the previous trimester. The average price for free market housing was around 1,850 euros per square metre, 3.7% less than a year ago and 0.9% less than a semester ago.

Social housing prices were recorded at an average of 1,141 euros per square metre, 4.1% more expensive compared to last year and 0.7% more compared to the year’s 1st trimester.