The Catalan real estate market during the first quarter of 2020 showed remarkable resilience, despite the start of the health crisis in the second half of March. Overall, the number of home sales reached 20,232 transactions, with a quarterly increase of 102.8%, although a year-on-year drop of -7.52%. This performance is partly due to the interruption of activity caused by the lockdown, which will have a more visible impact on the results of the following quarter.
By segment, new housing experienced a growth of 260.6% compared to the previous quarter, while used housing increased by 76.6% in the same period. However, in year-on-year terms, both segments showed a slight slowdown. At provincial level, Barcelona leads with 67.62% of sales in Catalonia, followed by Tarragona (13.86%), Girona (13.64%) and Lleida (4.88%).
In terms of prices, the average value of housing in Catalonia was €2,198/m², with a slight quarterly increase of 0.24% and a year-on-year increase of 3.42%. New housing showed a greater appreciation with a year-on-year growth of 6.28%. The provincial capitals showed different behaviours: in Barcelona, the average price reached €4,136/m², in Girona it was €1,948/m², in Lleida it was €1,134/m² and in Tarragona it was €1,320/m².
This report offers a clear overview of the state of the Catalan real estate market in the first months of 2020, showing a sector that, although affected by the restrictions of the health crisis, was in good health before the arrival of COVID-19.
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