Second-hand Balearic property most expensive in the country

In 2020 the price of second-hand property went up by just 0.5% to 1,726 euros a m2, which is a long way from the 3.4% increase recorded at the end of 2019, according to data from Real Estate website, Hogaria.net.

Second-hand property prices increased by 0.8% in the 4th quarter of last year and by 0.3% between November and December, which is lower than in 2019.

Hogaria pointed out that although prices had been rising since July, in almost half of all Provinces, prices were lower year-on-year.

"It seems that the price of second-hand housing has withstood the effects of the crisis caused by the coronavirus pandemic and the hope of a speedy economic recovery may cause them to rise slightly during 2021,” said a Hogaria representative.

In December 2020, a total of 37 provinces recorded increases in second-hand home prices compared to November.

The biggest fall in house prices last year were in Salamanca with -3.7%, Soria with -3.6%, Córdoba with -3.4%, Girona with -2.9% and Cantabria with -2.7%.

The biggest increase in house prices last year were in Madrid with +2.8%, Guipúzcoa with +2.5%, Cáceres with +2.4%, Alicante with +2% and Badajoz with +1.8%.

The most expensive homes are in the Balearic Islands at 3,232 euros per m2, Barcelona at 3,136 euros per m2 and Guipúzcoa at 3,038 euros per m2.

The cheapest homes are in Ciudad Real y León at 1,130 euros per m2, Palencia at 1,165 euros per m2 and Badajoz at 1,195 euros per m2.