PRESSURE to live in the city is taking its toll on the country’s rural property market.
Spain is currently experiencing a two-speed market where prices continue to rise in cities and fall in the countryside.
New research by the Spanish property portal Idealista reveals that both rural and urban markets began a post-crisis recovery in 2013.
However, since the second half of 2015, they have gone in different directions, with city prices rising 1.7% year-on-year in November while the national average for rural areas has plummeted by 4.3%.
Fernando Encinar, head of research at Idealista explains: “The study makes clear that markets that are attracting the most interest and can count on solvent demand are already rising in price, whilst other areas, mostly rural, can’t manage to raise interest from buyers, and are being forced to continue dropping prices to close sales.”