New TINSA house price report

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

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