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Spanish real estate prices fall up to 14.5% a year

Posted by: In: Real Estate 08 Apr 2014 Comments: 0 Tags: ,

Home values in Spain are still falling by up to 14.5% a year and look set to continue to decline, according to a report from the Sociedad de Tasación, but some Spanish overseas property professionals say they are seeing improved market conditions

Property prices are still falling in Spain by up to 14.5% a year, two new market indexes reveal.

But some Spanish overseas property professionals say they are seeing a growing demand and believe market conditions are improving.

Data from Sociedad de Tasación show prices of new and existing homes in Spain fell 6.3% from January-March in 2014 compared to the same period last year , reaching €1,270 per square metre. This is around half (47.1%) of the peak 2007 values, which reached €2,400 per square metre.

However, Judith Archer, Overseas Sales Director at Alcossebre Property Sales, based in Alcossebre, Castellón, Spain, has told OPP Connect, “We have seen a marked improvement and things are far better than last year. This has not come from English buyers, but from Belgians, Germans and even Chinese buyers.”

Seville performed best with a rise of 3.4% and Barcelona came next, with values increasing 0.5%, according to the Sociedad de Tasación figures.

Everywhere else, …read more

Source: OPP



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