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November 13, 2013

The cost of real estate in Spain continues to fall

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Official figures for October 2013 indicate continued decline in property values in Spain. At this time the decrease was 8.5 %.

As the government estimated agency of Spain Tinsa, since the beginning of 2007 the cumulative decline in house prices in Spain was 38.9 %. It should also be borne in mind that the property is situated on the Mediterranean coast, is more affected by the economic crisis affecting the country. And that's reflected in the fact that the price level of a house or apartment near the sea fell by 46.1 % , while in the big cities and provincial capitals , property values declined by 43.5 %. In October 2013, the price decline in more affected areas of large cities in Spain, where the inter-annual price decline of 11.3 %.

Without haste, but without stopping , the value of real estate in Spain continues to fall. You can describe the situation on the Spanish property market at present. This is confirmed by official data evaluation agency “Tinsa”, published today. The inter-annual decline in property values in October 2013 was 8.5 %, significantly lower than the same figure for September 2013, when the inter-annual prices dropped 9.2%.

According to the agency “Tinsa ” maximum performance value of real estate in Spain was achieved in 2007 and since then , the cumulative fall in prices was 38.9 %. During this period, real estate prices in the capital cities of provinces and cities have fallen even more , by 42 %. Which means that the houses and apartments were almost twice more accessible than before the economic crisis. And the decline in prices continues, as confirmed by official data.

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