New build property prices fell just 4pc in 2011 says valuation company

The price of newly built property fell just 4pc in the course of 2011, according to Sociedad de Tasación, one of Spain’s leading appraisal companies.

The chart above shows the average price of new property in €/m2 (blue line) and the annualised change (bars).

With at least 750,000 empty new homes on the market, and the worst real estate crash in living memory going into its fifth year, there is no way on earth that new build values fell by just 4pc last year. Double it or more, and you are getting closer to the truth.

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