Spains major property valuation company report a further a decline in house prices.
Despite a general feeling that activity in buying in Spain has increased this year, TINSA one of Spains largest valuation companies has reported a further decline in prices during September.
TINSA has been monitoring average house prices since 2001 and gauge their index against 2001 prices.
Report Highlights
Highlights of the report include a stalling of increases in the Balearics who had been showing some small growth in recent months and a much lower than average drop in Towns near to major Cities.
All other areas show a continuing decrease all be it at a much slower pace than seen in previous years.
The average drop in prices sonce the height of the market now sits at minus 41.7% with the coastal areas being hardest hit and down a massive 47.3%.
Average prices according to TINSA now reflect prices in Spain from June 2003.
Current trends
Unlike the INE who take their infromation from Land Registry TINSA report against their own valuations undertaken within the month and the information and amount of properties is a relativley small sample.
Because the sample is small it could be argued it is not relevant but over the years it can show robust trends and reflects the veiw of the INE when looking at August data that prices have not as yet bottomed out.
Good news for potential buyers in Spain but not such good news for those selling in Spain.
Read the full article: House price index in Spain
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