Resale asking prices have fallen 7.3pc over 12 months to the end of August, according to idealista.com – one of Spain’s leading property portals.
That is marginally better than the 8.2pc annualised fall in July, but that is as good as the news gets.
In Euros / m2, the average asking price of resale property advertised for sale in the Idealista database now stands at 2,167 €/m2, down from 2,339 €/m2 a year ago, and 2,172 €/m2 a month ago (-0.2pc).
On a monthly basis (30 days), prices rose in 9 autonomous regions, led by Navarre (+1.6pc), Asturias (+1.2pc) and Cantabria (+1.1pc), all three of which are in the North of Spain. Prices fell the most in Aragon (-1.7pc), La Rioja (-1.5pc) and The Balearics (-1pc).
So it seems that vendors continue to reduce their expectations as Spain’s real estate crisis grinds on.
