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Spanish Properties Still Falling

Spanish holiday homes
Spanish property prises are still decreasing, the average property on the coast has dropped by over 10% in the last year as declared by one of the leading Spanish surveyors.

The Ministry of property has shown an average fall of 8% for all other property inland  including council properties ( not including the cities ) .

Spanish properties in the cities, Madrid especially has fallen nearly 11% over the same period 

The Spanish Islands Canaries, Balearics have fallen that bit less with a drop of 9.2% which was a higher increase from last month.

Average prices for new and resale property (not including council housing) are down 10.1% over the year, but prices on the coast line, where most of the Spanish holiday homes are located, are down 12.3%. Price declines on the coast eased ever so slightly compared to May, when they had fallen only 12.8% year on year, thanks to a slight summer sale increase.

Spanish property prices are now 13% off the December 2007 peak. Prices on the coast are down almost 18% off the peak.

Jack Dunn