The reduction of prices for Spanish property, which we have observed during last years, has different temps and depends on the type of housing. Based on data from the Council of the Notary of Spain, the average apartment price in the last year became in three times less than the average price of houses.
The average cost of an apartment in the summer of 2012, compared to the summer of the previous year, decreased by 14,6% and now stands at 1 507 euro per square meter. The average cost of cottages decreased by 5,7% year-on-year and the cost per square meter of cottage is 1 031 euro.
According to the Register of Deeds of the Council, the cost of new housing decreased by 10,5% year-on-year. The cost of secondary housing market decreased by 19,5%.
Total volumes of property sales in Spain decreased by 5,3% compared to the last year. There were 30 234 sells, and 24 276 of them were apartment and 5507 - cottages.