Prices in Spain fell by 25% lower than the officially considered

Prices in Spain fell by 25% lower than the officially considered

A study conducted by one of the largest real estate agencies in Spain Fotocasa leads to rather interesting conclusions. The fact is that the Spanish housing prices dropped significantly stronger than reflected in official statistics.

Analysts estimate that the difference between the actual performance figures and statistics is about 25%. This is because the government in its calculations using official data provided by evaluating companies that do not take into account certain factors. Realtors, in turn, work with real objects and buyers and the real process of buying and selling. When the buyer and seller are beginning to negotiate, the final price may deviate significantly from the official rates.

Spanish Ministry of Development considers that the decline in prices in the period from June 2012 to June 2013 fixed at 7.8%. Fotocasa analysts believe that prices in fact declined by 11.8%.