The National Statistics Institute (INE) has published the report related to the price of housing in Spain during the first three months of 2020 (January - March). Despite the difficult situation that the world is experiencing due to the Coronavirus crisis, the value of properties has been kept on the sidelines.
The House Price Index (IPV) has increased by 3.2% compared to the first quarter of 2019. Very positive news for real estate agents. This growth has been positively affected in the two housing states: new construction and resale.
The IPV of newly built properties has grown by 6.1% and the price of second-hand homes by 2.7%. It is highly likely that we will have to wait for the second quarter report to determine the impact of COVID-19 on the property price. However, these first data are very encouraging and allow property buyers AND sellers to continue with their work, looking at the current situation in a different light.
Which regions of Spain have noticed the annual growth in house prices the most?
There are 3 areas in Spain with the highest annual growth rate: The Balearic Islands, Asturias (northwest) and Andalusia (Costa de Sol ). The Balearic Islands has registered 6% year-on-year growth in house prices and Asturias and Andalusia more than 4%.
The Valencian Community remains in fifth place behind Aragon , the region that led the table in the last quarter of 2019 with a growth of 5.5% in the IPV.
With all these data, the Spanish real estate sector can be happy since prices have not slowed down after the global health crisis. As we indicated at the beginning, we must keep waiting to receive the data from the House Price Index for the second quarter to ratify this first positive report.
Take advantage of these positive data to promote your homes on a custom website
As we are observing, the sale of properties in Spain continues to grow. Given the high demand for housing, offering a personalized real estate website can set you apart from your competitors.
Any real estate agent can sell a property with a pool, sea views and close to the beach. However, the key is in how to sell it. Mediaelx-LetsINMO offers you a project designed for you.
- Custom real estate website
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