Property Prices Decline by 2.9% in Q3

27/11/2014 – El Mundo 

Unsubsidized dwellings continue to cheapen, not as abruptly as they used to, though, when the slump repeatedly reached 10%. Accordig to data provided by the Ministry of Public Works, Spanish home price fell by 2.6% in the third quarter of 2014 from Q3 2013. To compare, in the second quarter the depreciation showed 2.9%. Currently, a residential square meter costs 1.455,8 euros on average.

From the second quarter, the price has stagnated (down 0.2%).

Considering the age of the properties, new house price (less than 2-year old) and the value of existing units practically coincides as first lost 2.9% and the other 2.6%.

 

Original article: El Mundo

Translation: AURA REE

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