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Resale asking prices stable in May

Asking prices for resale properties hardly budged in May, with the average asking price for a flat in Spain down just 0.1% on the previous month.

Asking prices for previously occupied property was stable in May, down just 0.1% in a month to 2,371 €/m2 according to Idealist.com, one of Spain’s leading property portals.

By autonomous region, price rose the most in the Balearics (+0.6%), Catalonia (+0.4%), Castilla y Leon (+0.3%), Madrid (+0.1%), and Galicia (+0.1%). Resale prices fell in all other regions, the most in Navarre (-2.6%), followed by Murcia (-2.1%).

The most expensive autonomous regions were the Basque Country (3,506 €/m2), followed by Madrid (3,279 €/m2), Catalonia (2,824 €/m2) and Cantabria (2,467 €/m2). The cheapest regions were Extremadura (1,420 €/m2), Murcia (1.456 €/m2), and the Canaries (1,615 €/m2).

By province, prices rose in 16 and fell in 33, the most in Navarre (-2.6%), Lerida (-2.2%), Murcia (-2.1%), and Alicante (-1.9%).

By city, prices rose in Barcelona (+0.6%) and Bilbao (+0.8%), held steady in Madrid, and fell in all other Spanish cities.

Bear in mind that this is all about asking prices, which are not the same as transaction prices. Trends in asking prices are interesting in what they tell us about vendor sentiments, and the balance of power between buyers and sellers.

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