Price of Rental Property in Spain Continues to Fall

News Date: jueves, 30 de julio de 2009

Property News in Spain
Spanish Property News

The average cost of property in Spain has fallen by over 10% from June 2008 – June 2009 according to the published Spanish property price index. The figures published by the Ministry of Housing however, indicates that property prices have fallen by just 8.6% over the same period, but this does not include Spanish social housing; making both reports a good indication of the property market value in Spain today.

Property prices on the Costa del Sol have seen figures drop the most, with a staggering 12.3 percent decline, although an average price drop for new build and resale properties throughout the whole of Spain is the lesser figure of 10.1%.

The price index for the second quarter has also been published by the Spanish Ministry of Housing, suggesting that prices fell by over 8 percent in the last 12 months to the end of June this year. Prices fell just below 2 percent on a quarterly basis; the average property in Spain now costs 1,920.90 Euros.

Prices are down the least in Extremadura (-1.1 percent), rising to Catalonia (-7.2 percent), Galicia (-7.5 percent), Andalucía (-7.6 percent), The Canaries (-7.8 percent), Murcia (-8.8 percent), The Balearics (-9 percent), The Valencian Community (-9 percent), Asturias (-9.3 percent), Madrid (-9.8 percent), and prices are down the most in Cantabria (-10.1percent).


Spanish Rental and Property News by TheSaraService.com News Desk

Got something to say? Say it here!

comments powered by Disqus
RSS News Feed Subscribe to our news feed

Featured Long Term

Villa in Calahonda

€1.250 Per Month

3 bed villa for long let in lower Calahonda

3 bedroom 3 bathroom private villa, renovated to a very high standard on a shared plot and situated in the well established and sought after
Click for more details and photos