Blogging from the Highlands of Scotland until I return to the Murcia region of Spain
in the Autumn for a month or so

'Fair and softly goes far' - Miguel de Cervantes

Friday, 1 July 2011

Spanish house prices fall 2.3 per cent Jan-Jun 2011

House prices (for new properties) in Spain are estimated to have fallen 2.3 per cent over the six months from January to June 2011, with the fall over a full year amounting to 4.7 per cent. New-build property now costs on average €2,419/sq m, so that a 90 sq m proprty would cost €217,710.

Apart from the Basque Country, where property prices rose 4.9 per cent, all other regions showed declining property prices - the worst fall being 8 per cent in Aragon. The area where I have my own property, Murcia, showed a fall of 6.3 per cent.

3 comments - please add your own:

jute said...

Hi Bill, Interesting statistics Spain however has still some way to go to catch up with the fall in the housing market in Eire, try selling a house at the moment.Thank Tom.

Bill said...

Hi Jute

Thanks for your comments about Ireland. However, the figures I quote relate only to new-build, not to sales of existing property, which I would say has fallen by a minimum of 30 per cent across the board and probably more like 50-60 per cent in very many cases, that's if you can find a buyer at all. In addition there are about 1.1 million unsold new-build properties and this is obviously having a disastrous effect on the sales market, not to mention that the construction industry has all but ceased to function (hence the highest rate of unemployment amongst the EU 27, at well over 22 per cent), apart from state-funded construction of things like hospitals, schools and medical centres under the "Plan E" funding mechanism, basically to stop the whole construction industry grinding completely to a halt.

Yes, I was aware the situation was pretty bad in Ireland - good luck :)

Bill said...

I have just marked as 'spam' a comment about the Spanish property market which was a mixture of 'propaganda' and 'wishful thinking'; apart from that it was full of mis-spellings and was totally 'anonymous' using a Blogger profile created for the purpose. I do not publish such worthless comments. Period.