Price of second-hand homes on the rise

THE price of second-hand homes in Spain rose 1.1 per cent month on month in April. This turned round seven months in a row of falls, according to figures from property portal fotocasa.es together with the IE Business School.

On average second-hand housing cost €1,636 per square metre, an increase quarter-on-quarter of 0.4 per cent in April, compared with January 2015. The 0.4 per cent rise is in contrast to the 1.4 per cent fall seen in the same period last year and is said to herald the stabilisation of property prices in Spain.

Of the 15 regions that saw rises the biggest increase, prices in Castilla-La Mancha were up 3 per cent. and in the Balearic Islands by 2.4 per cent.  Since the peak, prices of second-hand homes have fallen by an average of 45 per cent from €2,952 per square metre in April 2007.

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