Some colour on Spanish property prices
Here is the latest on the falling Spanish properties market. From IMIE’s latest March report.
The General IMIE Index recorded the highest year-on-year decrease in the historical series during the month of March, with a drop of 11.5%, leaving the index at 1631 points. Since peaking in December 2007, house prices have seen a fall in value that now stands at a cumulative figure of exactly 28.6%.
|Capitals and Major Cities||1925||1683||-12,6%|
|Balearic and Canary Islands||1576||1423||-9,8%|
With regard to the performance of the different market segments, “Capitals and Major Cities” once again recorded the steepest decline of 12.6% in March, followed on this occasion by the “Other Municipalities” with a fall of 12% compared with the same month last year. In both cases the reduction exceeded the market average.
General Index Evolution:
Below the market average were the municipalities of the “Mediterranean Coast” which saw a year-on-year decrease of 10.8%, followed by the “Balearic and Canary Islands” and the “Metropolitan Areas”, which both presented a drop of 9.8%.
Relative Year-on-Year Evolution:
In relation to the overall decline since the market peaked, the “Mediterranean Coast ” showed a fall of 34.9% in March; followed by “Capitals and Major Cities” with 30.8%, “Metropolitan Areas” with 29.4%, the “Balearic and Canary Islands” with 25% and “Other Municipalities”, which refers to those not included in the other categories, with 24.9%.eries.
Full report here.