A slight drop for resale prices in Spain

A MONTHLY report by pisos.com online property site has revealed that resale property prices in Spain registered an average price of €1,522 per square metre in November.

Compared to the same month in 2014 this means the price has dropped 3.01 per cent, whereas compared to October 2015 it increased 0.82 per cent.

Pisos.com director Miguel Angel Alemany stated that the market has managed to recover from a heavy blow during the recession and prices are unlikely to enter freefall again.

“Now is the start of a new cycle during which developers will be planning properties aimed at particular potential buyers with nothing left to luck as the crisis taught us all to be careful, study locations and make sure our projects won’t be left in the air,” Alemany said.

The most expensive resale properties can be found in the Basque Country (€2,808 per m2), Balearic Islands (€2,070 per m2) and Madrid (€2,042 per m2) and the cheapest in Castilla-La Mancha (€945 per m2), Extremadura (€1,138 per m2) and Murcia (€1,180 per m2), according to the November report.