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Housing prices reach the same level as ten years ago.

According to the information published by the Ministry of Infrastructure housing prices reached in June 1.481,7 Euros per square meter, figures which show a decrease of 7,8% in reference to the figures of 2012. But this downward tendency has been a reality in the last years, so that housing prices now reach level of 2003. In the first quarter of 2004, the average price per square meter reached 1456,2 Euros.

The price of the square meter accumulates a descent of 29,5% since its maximum level, reached in the first quarter of 2008, when prices were over 2000 Euros per square meter.

As for the tendency on the short term, most experts assume that prices will continue their moderation until 2014. Fotocasa.es calculates that currently owners are applying discounts of 25% on the initial offer in order to be able to sell their homes.

 

Source: Fotocasa