The prices of apartments hit rock bottom

October 13, 2010 at 11:18 am Leave a comment

Last month PM Zapatero announced in an interview in the US that housing prices have hit bottom and they are slowly increasing now. This was to be interpreted as a sign that the real estate market is back on track and the worst part of the crisis has past.

Well, this affirmation is contradicted by Tinsa, the real estate appraisal company. According to their reports, the average house price in September fell 5% compared to the same month last year, four points more than it had declined in August.

Housing prices fall

The index of real estate valuations for apartments, both new and used, reflected a further decline after months when it seemed that prices tended to moderate. But there is still hope for the last months of the year, when an increased demand is expected due to the tax deduction which disappears in January 2011.

The area hardest hit by the bursting of the housing bubble remains the Mediterranean coast, with a decrease of 8.7%, although rates away from a year earlier, when the fall is over 11%.

Below average is the capital and large cities (where prices fell by 4.6%), the Balearic and Canary (-4.2%) and the remaining municipalities (-3.4%).

source: elmundo

Advertisements

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

Social Media For Real Estate Brokers Spanish urban development was centered on land speculation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Like us on Facebook!

Share this page on Tuenti

Kinos Group

@kinosgroup

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

Kinos Group on LinkedIn

International Property Listings

Videos of our properties


%d bloggers like this: