The Catalan real estate market during the second quarter of 2020 was deeply affected by the health crisis, which paralysed activity for a large part of the period. 12,973 home sales were recorded, which represented a fall of -35.88% compared to the previous quarter and a year-on-year contraction of -36.92%. This impact was evident in both new and used housing, with declines of -37.52% and -35.56% respectively. On a year-on-year basis, the reduction in used housing was more pronounced, reaching -38.16%.
In terms of prices, the value of housing in Catalonia showed slight resilience, with a quarterly increase of 1.17% and a year-on-year growth of 3.19%. New housing experienced a quarterly increase of 2.33% and a solid 6.11% year-on-year, while used housing had a more moderate growth of 0.91% quarterly and 2.63% year-on-year.
In the main cities, Barcelona recorded 2,179 sales, which represents a quarterly adjustment of -32.91%, while in Girona and Tarragona the declines were even more marked, with falls of -38.75% and -39.11%, respectively.
This report highlights the drastic reduction in real estate activity in the quarter due to lockdown restrictions, although prices have shown slight resilience, remaining relatively stable.
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