Value falls slowing in Spanish market

The National Institute of Statistics in Spain have recently released a report which indicates that the slide in property prices in Spain may be close to a halt.

The statistics report a drop of over 7% in prices over the last 12 months, with new build values seeing the greatest fall; a clear indication that the market has been failing to attract new investment, as buyers fear further slumps in market values.

Price falls have varied across the country and areas such as Catalonia & Madrid, where prices tended to be much higher than elsewhere, have seen the greatest tumble in their value. The slide in places like Andalucia & Murcia has been less traumatic due to their popularity with the majority of foreign investors.

Overall the trend shows a marked reduction in these price dips, & especially in resale property where the fall was reduced even between the first and second quarters of 2009. Good news indeed for anyone selling a property in Spain currently.