Prices of resale housing in Spain are continuing to fall, according to new figures, although the rate of decline is slowing.
Research by fotocasa.es reveals that the average price of resale housing in Spain stood at 1,637 euros/m2 in October, down 0.6 per cent from September. Indeed, year-on-year prices have fallen 6.2 per cent, with values down by an overall 44.5 per cent from the market peak in April 2007 – the equivalent of almost €3,000 cheaper.
Nonetheless, Spain’s property market has seen demand return this year, with economic conditions improving and sentiment growing positive surrounding a potential bottoming out. While prices fell in October, for example, that rate of decline is slowing, with the 6.2 per cent annual less steep than the 9.4 per cent annual decline recorded in October 2013.
For a detailed breakdown, visit Kyero.
Source: The Movechannel