In keeping with last year’s trend, vendors continue reducing their expectations on a monthly basis, though not in all areas.
Asking prices fell between 0.3pc and 0.6pc month-to-month according to idealista.com and fotocasa.es, two of Spain’s leading property portals.
Idealista say resale asking prices fell 0.6pc to 2,258 €/m2 between December and January, whilst Fotocasa, in conjunction with IESE business school, say prices fell 0.3pc to 2,255 €/m2.
According to Fotocasa, an average home (flat) of 80m2 would now cost 180,400€, down 4.7pc in a year and 23.6pc since the April 2007 peak when prices hit 2,952€/m2.
On the bright side prices fell in fewer areas last month, with prices stable or rising in 7 of Spain’s autonomous regions.
Idealista say average asking prices rose month-to-monthh in 7 regions led by Murcia with 1.8pc, followed by The Canaries (+1.2pc) and Galicia (+1pc). Prices fell the most in Cantabria (-1.5pc), Extremadura (-1.2pc) and Asutrias (-1pc).