Good news from Spain: market slowdown has decreased threefold

Jan. 26, 2015

Good news from Spain: market slowdown has decreased threefold

In 2014, property prices in Spain fell only by 3%, which is three times less than in the 2013 (9.2%). These data are published in new General and Great Markets IMIE price index from the Spanish Tinsa appraiser. It is also reported that the index is at the level of July 2003 and is by 41.2% below the peak level of 2007.

In market study of 2014 were analyzed five categories, such as "Capitals and big cities," "Metropolitan areas", "Mediterranean coast", "Balearic and Canary Islands" and "Other municipalities." Properties in the "metropolises" fell down by only 0.2% in December 2014 in annual terms; for comparison, in 2013 it was 11.5%. Housing in the Balearic and Canary islands lost in the price 2% (3.2% in 2013), and in the capital and major cities – 2.8% (11% in 2013).

The major fall in prices was fixed in the "Other Municipalities" category (-4.7%) and in "Mediterranean" (-4.5%), where housing prices fell by 49.5% since 2007, a record figure for the country.

2015 should be stable for Spanish property market and in 2016 the prices will start to rise, predict the experts.

 

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