Official House Price Index -4.7pc in Q1

After improving all last year, house price declines have started to accelerate again, show the latest figures from the Government (Fomento).

Average house prices fell to 985.5 €/m2, down by 4.7pc compared to 12 months ago. After inflation, real house prices were down 8.3pc.

Prices tumbled in Madrid (-8.9pc) and Malaga, home to the Costa del Sol (-8pc).

Average prices are now down 15.4pc since their peak, -22pc in Malaga, and -21pc in Alicante (Costa Blanca), but up 91pc over 10 years.

Recent interest rate rises are likely to put further downward pressure on prices.

Profile photo of Mark Stücklin

About Mark Stücklin

Mark Stücklin is a Barcelona-based Spanish property market analyst, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on All articles published in good faith as a general guide but no substitute for professional advice. Please read the SPI disclaimer

Leave a Reply