New depreciation of Spanish housing
June 16, 2010In Q1, average cost of local residential property has decreased by 1.2%, compared to the preceding quarter.
In comparison with Q1 2009 Spanish housing prices have declined by 2.9%, according to a report by the National Statistics Institute of Spain.
The indicator has climbed down by 1.5% in the segment of primary housing, in quarterly terms, while declining by 4.2%. Secondary housing has cheapened by 0.9%, and 1.4%, respectively.
| Region | Price dynamics, % | |
| Q4 2009 - Q1 2010 | Q1 2009 – Q1 2010 | |
| Andalusia | -0.9 | -1.6 |
| Valencia | -1.9 | -4.1 |
| Murcia | -1.6 | -1.1 |
| Catalonia | -1.5 | -3.6 |
| Canary Islands | -1.7 | -2.6 |
| Balearic Islands | -0.3 | -2.7 |
We would like to remind you that in Q4 2009, the value of Spanish residential property has declined by 0.4%, compared to the preceding quarter, while climbing down by 4.3% in comparison to the same period last year.
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