This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
A ranking of asking price declines since the peak of the boom according to idealista.com, a leading Spanish property portal.
Idealista found the biggest falls in provincial capitals of the Mediterranean coastline, especially in The Valencian Community and Catalonia. Surprisingly, asking prices held up better in Andalucia and Murcia, at least according to Idealista’s research.
Personally I find it difficult to believe that asking prices have fallen more than twice as far in Girona province (Costa Brava) than in Murcia. That suggests there might be a problem with the samples used by Idealista.
brianc_li says:
As you suggest Mark, these ‘asking price’ indexes are very flawed. To be frank none of the indexes, especially not the official ones, give any good picture of what is happening out there.
The one thing this does highlight for me however is just how much asking prices have divorced from reality. It is pretty generally agreed that prices on the costas are at least 30%, probably closer to 50% lower than at peak whereas the drops shown here are in the 15%-20% area.