House prices down in May
June 13, 2012 1 Comment
TINSA have released their IMIE Index figures for May showing a decline of 11.1% year-on-year.
“The year-on-year variation in house prices in May recorded a modest slowdown in the trend of recent months”
The General IMIE Index fell during May in year-on-year terms, with a decline of 11.1% and an Index level of 1595 points, after falling below the 1600 barrier. The cumulative decline in house prices from the peak of the market in December 2007 reached a low-point increasing by four tenths to 30.2%.
In terms of the different segments, the municipalities of the “Mediterranean Coast” once again recorded the sharpest year-on-year decline during May with a fall of 14.1%, closely followed by “Capitals and Major Cities” which fell by 13.3% and “Metropolitan Areas” by 11.8% compared to the same month the previous year. The decline was greater than the market average in all three areas.
Once again “Other Municipalities” were below the average with a year-on-year decline of 8.4%, followed by the “Balearic and Canary Islands” in last place with a fall of 6%.
In relation to the overall decline from the top of the market, the “Mediterranean Coast” recorded a fall of 37.9% to May; followed by “Capitals and Major Cities” with 32.9%, “Metropolitan Areas” with 31.2%, “Other Municipalities” with 25.9% and lastly “Balearic and Canary Islands” with 24.1%.
Read the full IMIE May Index 2012 at Tinsa.