Words: Ashley Rigg
Published: 10th September 2009
Spanish property prices bottoming out says TINSA index
Residential property prices in Spain fell by 8.9% year-on-year to the end of August according to the TINSA property price index.
Coastal areas were hit hardest thanks to the number of unsold holiday homes with prices falling 10.3% on average in seaside locations.
Although the pace of price falls is decelerating, it does not mean the market has bottomed out says expert blogger Mark Stucklin.
Between August 2001 and this August, average Spanish property prices rose by 94%. Recent declines have been relatively modest in comparison and besides, the index only shows valuation prices.
Transaction prices are likely to be significantly lower than those reported in the TINSA index.
Full story on
Spanish Property Insight.
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User Comments
I agree with Spanish Property Insight that this index doesn't reflect what is happening with real transactions which are happening at deep discounts if at all. That said there may be a steadying or flatlining going on but not a recovery like the UK seems to be experiencing. My full views are here:
http://hubpages.com/hub/10-reasons-why-Spanish-Property-Prices-are-not-about-to-rise
James Baker,
http://www.advoco.es/