10/09/2014 – Expansion
Thus, although the values continue to shrink, they do it much less harshly than they used to a year before. Tinsa adds that year-to-date, the real estate prices went down by 3.2%, compared to the 8.1% slump registered in the same period 2013.
The Balearic and the Canary Islands and the Mediterranean Coast, all saw housing prices adjusting acutely year-on-year in August, showing 8.3% and 7.1% falls respectively. Since the pre-recession caps, homes in these popular Spanish regions have cheapened by 34.5% and 48.4% accordingly.
In turn, in big cities of Spain and their metropolitan areas the values dipped down 4.4% and 2.1% year-on-year in August, whereas in the rest of the municipalities the decrease post 3.5% on the same basis.
Taking into consideration the maximum levels, regional capitals and other large cities already cumulate a 45.3% depreciation, while their surrounding areas average at 43.4%.
Tinsa informs its appraisals yet do not detect any overall rise in prices and the firm´s outlook for the upcoming months depends on the economic growth and the unemployment rate.
Thus, some micro-markets still have a way down ahead, whereas the other might be already showing signs of recovery. As a result, the appraiser portends deeper falls unless the improvement arrives firm.
National Statistics Insititute reports that the home values noted down in the second quarter of 2014 indicate a 0.8% increase year-on-year , representing the first positive development since the first quarter of 2008.
What is more, last week the Registrars Association assured of a rebound of 1.5%.
Original article: Expansión (after: Efe)
Translation: AURA REE