Prices of houses decline and drop another 4.6%

September 15, 2010 at 3:03 pm Leave a comment

The average house price has decreased another 4.6% in August over the same month of last year, three tenths of a percentage increase over the data that was entered in July, according to the Tinsa, the real estate appraisal company.

According to Tinsa,  the results of the last two months do no reflect a definite trend, so it is necessary to wait for the results of the last quarter to draw conclusions, especially considering that the data correspond tothe summer months in which the activity in a somewhat atypical. In August last year, prices fell 8.9%.

The housing prices have fallen in every region, but the decrease is bigger in metropolitan areas reported to July.

In particular, the largest declines in August correspond to Madrid, the big cities and the Balearic and Canary Islands, with a decrease of 5.5% and 5.3% respectively. For its part, the decline on the Mediterranean Coast stood at 4.9%, while in metropolitan areas and other municipalities, the fall in August was 3.5% in both cases.

The great volume of vacation homes available this summer has contributed to the decrease in prices.

This situation causes the cumulative drop in price on the date it reached its maximum value has been increased in all areas. The biggest drop since maximum occurs in the Mediterranean coast, with a cumulative decline of 23.7%, followed by the capitals and large cities (-19.3%), metropolitan areas (-18.7%), Islands Balearic and Canary Islands (-17.1%) and finally, the remaining municipalities, with a decrease of 14.9%.

Source: elmundo.es

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Entry filed under: Housing, News, Real estate. Tags: , , , , , , , , , , , , , .

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