Spain: new houses’ prices resist the crisis impact

Spain: new houses’ prices resist the crisis impact

«The Covid-19 crisis may have affected that trend by making it more accentuated, but we did not see – at least until now – a reversal of the previous cycle, so much so that there have been some slight increases», advanced Sociedad de Tasación in a release.

Its "Informe de Tendencias del Sector Inmobiliario" (Real Estate Sector Trends Report) concerning the first semester of 2020 shows that the price fluctuation between December and June is set at 0.8% and, thus, the growth pace remains moderate for the third consecutive year. But it should be noted that when compared to the same period last year, the average price for new houses – which in June was set at 2.472 €/sqm – registered a 3% increase.

According to the document, «this variation takes into account the effect generated by the Covi-19 sanitary crisis so that the fieldwork to gather information was developed only during the deconfinement stages».

Build-to-rent: a new bet for Madrid and Seville

This study, which assessed 400 municipalities across the country, also predicted that there are «provinces with positive symptoms for the development of build-to-rent projects», as is the case of Seville and Madrid which improved their revenues within this segment by 7.8% and 6.8% - before they were at 6.2% and 4.7%, respectively.

According to the latest data from urbanData Analytics, the average gross revenues for renting in Spain increased by 7.1% yoy during the second quarter of this year, is currently set at 8.1%.

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