Spanish Property Prices have fallen 40% since the Peak

A report out this month by Tinsa, a leading independent appraisal company, shows that property prices in Spain have fallen 40% since December 2007.

This figure contrasts to the official estimate of 24%, provided by the Official Spanish House Price index, which is regularly criticised for its inaccuracy from both inside and outside of Spain, and which gives a false impression to would-be-buyers abroad as they think that prices are over inflated and should drop further. Here at LPG Spain, we would prefer to believe the former as being more accurate.

Tinsa goes on to report that the drop varies depending on the region or area of Spain. Average prices on the Mediterranean coastline have fallen the most with a 39.5% drop. Capital cities have fallen by 35.6% whilst metropolitan areas, by 31.4%.

The question is: Will prices continue to fall?

Read the full article:
http://www.leadingpropertygroupspain.com/en/2012/09/spanish-property-prices-have-fallen-40-since-the-peak/