Photo credit: FlickrDelusions
Prices of private housing in Spain dropped 7.8 per cent in the final three months of last years, according to the National Statistics Insitute, the 23rd quarter of year-on-year decline in a row, the equivalent of almost six years.
Indeed, values have dropped steadily now in the country since 2007, when annual growth of 5.7 per cent was recorded in one of the four quarters. In the fourth quarter of 2013, prices fell another 7.8 per cent, an improvement upon the decline of 12.8 per cent recorded in the same period of 2012 and the 11.2 per cent decline recorded in 2011, but more severe than the decreases suffered in 2010, 2009 and 2008.
Existing homes experienced the biggest loss in value, notes Kyero, with prices falling 7.7 per cent year-on-year in the fourth quarter of 2013. On a quarterly level, the three months saw private housing values decline 1.3 per cent, a downturn for the market after registering a quarterly increase of 0.7 per cent between July and September.
Previous statistics have seen prices begin to rise in the more popular markets, as overseas buyers flock to take advantage of low-priced holiday homes. Indeed, year-on-year …read more
Source: The Movechannel