TINSA have released a new Spanish house price report for December. You can download it here.
They summarise with the headline “The decline in house prices continues”.
The General IMIE index fell again in November to 1725 points to a year-on-year decline of 8% compared with 6.9% the previous month.
The cumulative decline from the top of the market in December 2007 has widened to 24.5 %.
This situation was also reflected in the market’s various segments, with “Capital and Major Cities” again recording the highest year-on-year decline of 9.7% , followed as in the previous month by “Metropolitan Areas” with 8.2% and the “Mediterranean Coast”, which echoed the decline in the overall market at 8%.
The remaining two areas fell by less than the national average.
The year-on-year decline for “Other Municipalities” was 7%, while in the “Balearic and Canary Islands” it remained at 3.7%.
The cumulative declines to November by area, from the top of the market, were:
- Mediterranean Coast 30.4%
- Capital and Major Cities 26.7%
- Metropolitan Areas 25.9%
- Balearic and Canary Islands 19.4%
- Other Municipalities (not included in the previous categories) 21%.