housing prices

In larger cities, the new housing stock is much smaller and in Barcelona it is almost non existent. However, in other towns and rural areas the current stock will not be completely absorbed until 2015, according to a study from CatalunyaCaixa. Prices will stabilise in larger cities and still drop by 10% where the larger stocks are concentrated. The Catalan housing market is now in better shape than in the rest of Spain. In Catalonia the new housing stock decreased by 2,000 units, while in Spain as a whole it increased by 2%.

During the first three months of 2011, housing prices dropped by 4.5% compared to the same period in 2010. The end of fiscal advantages for property purchase is the main reason behind this drop. The average square metre price in Catalonia is now set at 2,145.2 euros. These prices have not been seen since early 2006 and represent a 14% drop compared with the historic maximum in 2008.

The average price per square meter was 2681 euros at the end of last year. Catalonia has the third most expensive property market within Spain, after the Basque Country and Madrid.

Information published by the Catalan Ministry of Public Works shows that real estate transcations went down 22% in the third trimester after 3 trimesters of consecutive increases.

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.