Spanish Property for Sale

As the sale of Spanish property registered an increase of 10.7 per cent in the first half of 2010 compared with the same period in 2009, the property prices have seen a drop of 4.3 per cent in July compared to the same month in 2009.

The Spanish Property Market Index, published by Tinsa revealed how prices have seen accumulated drops of 16.9 per cent from their maximum in 2007 with the coastal areas having seen a drop of prices by 22 per cent, 17.9 per cent in urban areas and 17.4 per cent in the capital and other large cities. The Index reached 1908 points in June, just 0.4% down on the May figures, resulting in an average year on year price fall of 4 per cent.

Tinsa also notes that there are still five months before tax deductions for the purchase of a home run out, so an acceleration of the price decline in the coming months is not expected.

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