Property values and sales continue to fall in Spain, latest real estate figures indicate

[Nicholas Wallwork]

Residential property prices and sales in Spain are continuing*their downward spiral, according to the latest published*figures.

Spain's leading valuation company, Tinsa, reports that*property prices fell by 8.9% over the last 12 months with*coastal areas, the regions most popular with real estate*investors and second home owners, seeing the biggest drop.

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[advoco]

8.9% fall, while obviously not great, still does really chime with reality as I see it. The fall seems to have been much steeper based on anecdotal observation. Perhaps this is because I live on the Western end of the Costa del Sol where the problem of unfinished, unsold properties is particularly acute.

 

[rowlandsbb]

Yes but we have a 3 bed apart GF at Condao , a Polaris World Resort, which is now 100.000 € down form 131.300 €
So whilst the average figures do show what you say, on the ground in good locations there are super bargains for ready now , such as this
Other developers are offering 30% off!!
But this PW one is a very good buy and the phases built so far have been very popular and you would be buying on a Resort which will be very good when the recession is over

 

[Resale Centre]

Well it can only be good news for all really, except home owners! Great for us estate agents and great for buyers ...

It will never be the same as it used to be in terms of over valued properties, lets hope that it stays like this for the forseeable future.

 

[rowlandsbb]

Sorry but we will have another boom in property values in due course , perhaps circa 2019
All this has happened before and in property economics history does have a habit of repeating itself
it has in my lifetime.....I worked through the 70's 3 day working week and all the others

when the exchange rate improves or we join the € and the world economy booms again, so will Costa properties

Just hope I am still here to see the boom and bust again!!!

 

[barry uh spain]

TINSA figures are based on valuation prices, not actual transaction prices. Also worth pointing out is that during the second quarter of 2009, 112,886 properties were purchased in Spain, which represents an INCREASE of 7.8% with respect to the previous first quarter of the year, according to data released by the Ministerio de Vivienda last week. Of course, being positive news, it has largely gone unnoticed, or commentators have decided to focus on the fact that sales are still down compared to the second quarter of 2008.