Pain in Spain goes on as prices fall

Yorkshire Post - Property - - PROPERTY -

THE fall in Span­ish prop­erty prices shows no sign of stop­ping.

The lat­est data pro­duced by the Hous­ing Depart­ment in Spain shows that the av­er­age price of a home fell by 8.3 peer cent last month com­pared with the same month in 2011.

Ac­cord­ing to the in­dex, Span­ish prop­erty prices have fallen by 23.5 per cent, on av­er­age, since the peak of the mar­ket in 2007.

Some Span­ish prop­erty com­men­ta­tors say that these fig­ures are con­ser­va­tive and un­der­es­ti­mate falls in prop­erty val­ues in the coun­try.

Re­search by Barcelona-based Univer­si­tat Pom­peu Fabra (UPF) shows that the av­er­age price of a home in Spain dep­re­cated by 41.7 per cent be­tween 2006 and 2011.

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