Resale asking prices down 5pc in a year say Facilisimo

Preciómetro es un servicio creado por facilisimo.com, especialistas en pisos

Average resale asking prices have fallen 4.78pc over 12 months to the end of October, according to facilisimo.com, a popular Spanish portal with a classified property section. (The -4.11pc in the chart above is decline so far this year)

That matches an annualised 5pc decline in values for both resale and new property reported by Tinsa at the end of September. Tinsa is one of Spain’s leading real estate appraisal companies.

So there seems to be some consensus in these statistics that Spanish property valuations and asking prices are down an average of around 5pc over 12 months. Remember the average can hide wide variations, so prices in some places will have fallen much more, whilst rising in others.

But also keep in mind that asking prices and valuations are no the same as transaction prices, which are the only thing that really count. What are average national transaction prices doing? I doubt anyone really knows.

On a monthly basis, prices fell 0.29pc in October say Facilisimo, compared to 0.6pc decline reported by Idealista – another property portal.

Facilisimo report that, over 12 moths, asking prices have fallen the most in the La Rioja region (-8.33pc), followed by Madrid (-7.33pc), Catalonia (-5.87pc), and the Valencian Region (-5.05pc). Asking prices have only risen in 3 autonomous regions: Cantabria (+3,4pc), Extremadura (+0,81pc), and Galicia (+0,06pc).

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.