Thursday, 13 November 2014

Residential House price news for Spain

October House Price Index

TINSA published on the 11th of this month their regular monthly house price index in Spain.

In general whilst prices continue to show an annual decline over 2013 the rate of the decline is slowing considerably and the annual decline in October stayed static at Septembers level of minus 4.2%.

Average house prices for the month.

Capitals and major Cities performed best within the month with a decline rate of only 2.2% against tha average yearly decline of 4.2%. Coastal areas performed slighlty below average and the Islands including the Balearics for the second month running showed a much higher decline than average at minus 5%.

Given the Islands have held up during the crisis at much better levels than mainland Spain there is perhaps some adjustment to come as the rest of Spain starts to recover.

Historically where are prices in Spain now.

Currently house prices in Spain are back in line with 2003 levels and down some 41.4% on average from the 2007 highs. 2003 pricing seems although it might be the natural level at which Spain stabilizes before prices start to rise again.

Much will depend not so much on the non resident buyers who buy in Spain but the confidence of the Spanish population to move back to a more active home ownership. Improvements in the economy all be it slow are becoming evident and access to lending is beginning to ease.

Read the full article :- Property price news for buyers in Spain

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