TINSA have released house price figures for January and they show another fall in prices, although more moderate than before.
The IMIE (Índice de Mercados Inmobiliarios Españoles) fell by 6.6% to 1714 points compared with 1719 points in December. The cumulative fall since 2007 is exactly 25%, meaning properties have lost a quarter of their value since the crisis began.
Looking at performance of different market segments, “Capitals and Major Cities” once again recorded the most pronounced decline with a fall of 8.7%, followed by the municipalities on the “Mediterranean Coast” with an 8.1% fall. The “Metropolitan Areas” followed with a decline of 6.5% compared to January 2011.
Since 2007, when the crisis first hit, prices have fallen sharply with the “Mediterranean Coast” recording an overall decline of 33.1%, over a third of its value. “Capitals and Major Cities” follow with an overall decline of 27.8%, followed by “Metropolitan Areas” with 26.3%, the “Balearic and Canary Islands” with 20.1% and “Other Municipalities”, which includes regions not included in the other categories, with 19.9%.
You can download TINSA’s report here: TINSA House Price Report – January 2012