Resale property prices continue to fall in Spain

Resale property prices continue to fall in Spain
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By h.b. - Nov 5, 2007 - 12:23 PM

Archive photo EFE

Prices fell across ten of Spain's regions for the fourth consecutive month

There is more evidence of the slowdown in the Spanish real estate market, with data published this morning showing the price of retail housing has fallen in ten regions of the country for the fourth consecutive month.

The average price for a square metre constructed is now 2,491 €, but compare that to the average of 4.156 € in Madrid and 4.849 € in Barcelona.

The average increase in house prices nationally since the start of the year just 0.73%. That compares to an increase of more than six percent for last year over the same period.

The information comes from the price index published at www.facilisimo.com which shows that the ten regions to see the falls were led by Navarra (3.51%), Aragón (2%), Andalucía (1,06%), Cataluña (0,91%), y Castilla La Mancha (0,9%).

Prices increased however in Extremadura (5.6%) La Rioja (2.09%) and Ceuta and Melilla (1.45%).

The number of mortgages granted in August was also down 12.5% compared to the previous year.

More information www.facilisimo.com

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