Spanish property prices rise 2% in a year, but fall in the latest quarter
Average Spanish property prices fell by 0.3% in the 3 months to the end of June, but still ended up 2% higher than the same time a year ago, according to figures released yesterday by the ministry of housing.
The average price of Spanish property now stands at 2,096 Euros per square metre.
On an annual basis, prices fell in Madrid by 0.4%, and rose by less than the average in Aragon (+0.6%), Castilla Leon (+0.7%), Extremadura (+0.7%), Murcia (+0.7%), Castilla La Mancha (+1%), Navarra (+1.8%), Cantabria (+2.3%), and La Rioja (+2.3%).
Property prices rose above the national average in The Balearics (+2.6%), The Canaries (+2.8%), The Valencian Region (+2.9%), Asturias (+3.2%), Galicia (+3.2%), The Basque Country (+3.4%), Andalucia (+3.9%), and Catalonia (+4.5%).
Many people would dispute the ministry of housing figures, as most other sources suggest that prices may be tumbling. In many popular coastal areas agents report steadily falling prices that are down by at least 20% in a year. Even the G-14 developers’ association, a hard-line defender of property values, has recently admitted that new build prices fell by 15% in the last 6 months.
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Spanish property prices rise 2% in a year, but fall in the latest quarter 
