Spanish prices have fallen to the level of 2003

May 6, 2015

Spanish prices have fallen to the level of 2003

The Tinsa, Spanish real estate appraiser, summed up the first quarter of 2015. A housing in Spain has fallen in price by 2.8% y-o-y and by 41.4% during the crisis (since 2007). In addition, average prices dropped to the level of 2003.

Although there are positive aspects. The rate of decline in prices has slowed a bit – in Q1 2015 the fall was only 0.4% (in comparison, in Q1 2014 – by 0.6%). In general, the stabilization observed in the province' capitals (-2.1%), the Balearic and Canary Islands (-1.7%), while the housing became cheaper a little faster in large cities (-5.3%) and small towns (-3.8% in Q1 2015).

In March 2015, the prices rose by + 0.2% in annual terms. It was observed in the category of "housing, located along the coastline of the Mediterranean Sea."