After ten years of rapid but steady growth, property prices in Barcelona are lower than they were at the beginning of the year. Does this indicate a dramatic market crash, or just a sign of settling down? Research into the second quarter of 2007, conducted by Spanish property information portal Idealista, reveals that the price of property in Barcelona city and it's surrounding municipalities have dropped by an average of 1.3%.
The report, The Quarterly Evolution of Resale Home Prices, details the findings of a survey sample of 10,689 homes in Barcelona, roughly half of which are located in the city centre, with the other half located in 21 surrounding municipalities of the city. The analysis was conducted on a mixture of private sale figures and those reported by real estate professionals.
