House prices down 5pc over 12 months according to Tinsa index
Posted on February 9, 2011 by Spanish Property News
Filed Under Property prices | 2 Comments
The Tinsa house price index shows house prices continuing their steady decline.
House prices in Spain were 5pc lower in January than the same time last year, according to the Tinsa index – one of the most watched in Spain.
Average national prices are now down 19.6pc since the peak.
As illustrated in the table above, coastal areas where foreigners tend to buy have done significantly worse than the national average, with prices down 8.4pc in 12 months, or 27.2pc since the peak.
The Balearics and The Canaries, on the other hand, did better than average, with prices down just 3.4pc over 12 months and 17.5pc since the peak.
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2 Responses to “House prices down 5pc over 12 months according to Tinsa index”
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Yes you are asesessd at what you pay. That is the true market value, what someone is willing to pay for the house. Some counties do NOT adjust downward. the house sold for 300k 5 yrs ago, you get it for 250k they do not lower it. Call the Tax office for the municipality and ask.