Spanish Property Prices Fall in July 2011
13 Aug 2011
The latest published figures in the General Spanish Real Estate Market Index reveal that house prices in the nation fell in July.
Interestingly the country experienced a year-on-year decline of 6.4 per cent, although this was more pronounced in some regions than others.
Properties on the Mediterranean coast took the biggest hit, dropping by 9.5 per cent in July compared to the same month in 2010. Nick Stuart Managing Director of Spanish Hot Properties believes that this reflects the amount of property buyers buying in the summer months compared to the first 5 months of the year. This is particularly true with regard to property for sale In Costa Blanca and Costa del Sol
At the other end of the scale, the Balearic and Canary Islands saw real estate values fall at a slower rate, recording just a 2.5 per cent reduction in the same period. Whilst these figures may look like good news it is a problem especially with Villas for sale in Mallorca according to Nick. Last year we had a record year for sales in Mallorca by being able to bring buyers and sellers together with the problem this year of buyers trying to find the same value and just doesn’t exist claimed Nick.
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- "Honest and supportive Nick managed the whole process from start to finish and made sure the whole sale and mortgage approval went through smoothly"