Housing Now Costs 41.8% Less Than in 2007

Posted by on Oct 2, 2014 in News

According to the latest monthly IMIE house price index prepared by the property appraisal company, Tinsa, the price adjustment in the housing market appears to be coming to an end, but has left behind a trail of declines which has led to home values in August 2014 being 41.8% cheaper than in 2007. During August the decline in prices, year-on-year, amounted to 4.3%, which was one tenth more moderate than in July. This index, which is based on valuations, does not yet reflect the upturn in prices reported by other organisations which base their statistics on purchases. The islands (Balearic and Canary Islands) and the Mediterranean coast once again registered the greatest declines in prices, year-on-year, falling by 8.3% and 7.1%, respectively. “Although properties are continuing to depreciate the national average, the declines are much gentler than a year ago. Prices have fallen by 3.2% between January and August 2014, while in the same period of 2013 an adjustment of 8.1% was registered,” said Tinsa in their report. Read...

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