Knight Frank Global House Price Index: Spain #42 / 50

Spain once again at the tail end of the Knight Frank Global House Price Index

The Global House Price Index produced by property consultants Knight Frank shows that Spain is still one of the worst performers in its ranking of global real estate markets.

With property prices down 4.6pc in a year, Spain is a long way from Hong Kong and India, where price rose more than 20pc.

In theory, Spain did better than countries like the USA (-4.9pc) and Ireland (-11.9pc), if you take the figures at face value.

The problem with this index, like so many others, is it uses Spain’s official figures, which fail to capture the true extent of property price declines in Spain.

My guess is that Spanish property prices have fallen more than 5pc in the last 12 months and at least 10pc on the coast.

+ Go to Knight Frank Global House Price Index, Q1 2011 results

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