Interanual drop in property prices for January

balancing

The average price of a built property (whether new or used) fell 2.7% in January compared with the same month of 2014, according to the latest report by Spanish appraisal company TINSA

Despite this decline, property prices do appear to have been stabilizing, a trend that started in the second half of 2013. In fact, it is the first time since June 2008 that the overall index recorded an annual decline of less than 3%.

Remember that in 2013 the average price of a Spanish property registered a decline of 9.2% and the overall balance of 2014 slowed to 3%.

As an interesting fact that was also mentioned, since highs of 2007, TINSA believes prices have declined on average by 41.6% across Spain.

The general positive trends is also noticeable in the increased demand. In fact, it has just been stated that residential property sales rose by 2.2% in 2014 year on year, to a total of 319,389 sales, thus returning to positive rates after three years of declines, according to the National Institute of Statistics (INE).

Of course the evolution of property prices over the next few months will be dependent on many factors including the health of the national economy.

Regards
Andrew Bellés

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