The price of second hand property in Spain has come through the winter having registered a fall of 0.7%. The cost per square metre fell from 1,563 euros to 1,552 euros over the first quarter of 2016.
The report of property prices in Spain produced by the Internet portal idealista.com shows that the market is evolving at two different rates with high growth in the large markets and a fall in prices in small villages and towns that inspire little interest from potential buyers.
The map below shows the evolution of prices throughout the whole of Spain for the first quarter based on Autonomous Communities.
If we look at the Autonomous Communities, only the Balearic Islands, Catalonia and the Community of Madrid saw property prices rise in the first quarter of 2016, whilst in fifteen of the seventeen Autonomous Communities prices have either fallen or stayed roughly the same.
However, when we look at specific urban areas, 16 provinces and 24 provinces capitals have seen property prices increase with Barcelona going up by 2.5% leaving the price per square metre at 3,478 euros.
If we look at the yearly trend, prices in Barcelona have risen by 6.6% over the last 12 months. The fall in prices in Barcelona is now 26.9% since they reached their peak of 4,732 euros per square metre in the first quarter of 2007.
Madrid also finished the first quarter with a rise in the price of housing of 0.4%, which leaves the cost per square metre in the capital at 2,832, and the fall in price is of 29.8% since it reached its historic maximum of 4,035 euros per square metre in 2007.
Property prices in Valencia have also risen by 2.3% and are now 2.9% higher than they were a year ago with the overall fall since 2007, when the price was 2,802 euros per square metre, is of a massive 47.5%.
In Seville prices have risen by 1.3%, whilst the growth has been 0.6% in Bilbao and 0.2% in Valladolid.
The rest of the Spanish market has experienced a decrease in prices with the largest fall of 1.1% being in Zaragoza followed by 0.5% in Malaga.
The highest increase registered by a provincial capital was 3.5% in Santa Cruz de Tenerife followed by 3.4% in Tarragona and 2.7% in Córdoba.
On the other hand, Cáceres and Lugo have been the most badly hit capitals with price falls of 6.6% and 4.1% and are followed by Toledo at 3.9%, Avila at 3.7% and León at 3.4%