British buyers are reportedly still interested in buying Spanish property, despite the Brexit vote, however, sellers in certain areas may need to scale back asking prices; Idealista's index showed asking prices fell nationally by 3.1% YoY in June. The average price of a home sold last month was €95,500, down from €106,700 at the end of June and up just 0.1% on an annual basis.
British buyers are reportedly still interested in buying Spanish property, despite the Brexit vote, however, sellers in certain areas may need to scale back asking prices; Idealista's index showed asking prices fell nationally by 3.1% YoY in June. While Spanish property remains priced 30-35% below the 2007 peak, significant regional differences have resulted in a two-speed recovery in the market: prices in popular coastal areas and big cities like Barcelona, Madrid, and Valencia grew by 19.5%, 6.4%, and 6.1% respectively while inland prices fell.