Insight into the Spanish property market, guides to help you make informed decisions, and a directory of real estate professionals and home service providers from a source you can trust.
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.
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional. Buying and selling property in Spain is not a decision to be taken lightly, and you may find it much easier to buy than sell if you don’t take care. In this market it is crucial to do your own research, and don’t rely exclusively on people who are trying to sell you something – let’s just say they might not have your best interests at heart. Spanish Property Insight is the only independent source of information and analysis of the Spanish property market. Don’t even think about buying or selling property in Spain without subscribing to Spanish Property Insight.
Spanish house prices have fallen back to where they where seven years ago, according to the Government’s House Price Index (Fomento).
House prices fell 7.2pc in Q1 compared to the same time last year.
The average cost of housing in Euros/m2 now stands at 1,649€/m2, basically where it was at the start of 2005, when the Government first started publishing this particular index.
This index isn’t very reliable but it does help to illustrate the house prices are clearly going down (see chart above).
One thought on “Spanish house prices back by 7 years”
Chris Nation says:
Interesting – maybe – that since the beginning of May 07 to today 1/5/12, the £ has gained about 20% against the Euro and average Spanish property prices have declined 20% over the same period, according to the graph above. We know it’s way off but I like the idea of turning that graph upside down to get a picture of GBP v Euro
The piece in S.P.I. at the beginning of April on the stall in the rise of GBP – stuck around 1.19 – now looks a bit dated. At 1 a.m. BST last night Citibank had GBP=1.23 Euro. It’s 1.225 now but the rise seems set to continue.
To illustrate that things in UK may not be so gloomy as the doom-sayers are wont to have us believe, I’ve accepted an offer on my house of less than 2% off the asking, two weeks after it hit the agency’s listings. In case you think I priced low to achieve this, the asking was £5k more than the asking recommended by 3 other agents who did not get the job – and £25k more than one who must check in to the nearest clinic.
So, Spanish property prices falling, GBP rising – I’m going fishing for a bit.
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Chris Nation says:
Interesting – maybe – that since the beginning of May 07 to today 1/5/12, the £ has gained about 20% against the Euro and average Spanish property prices have declined 20% over the same period, according to the graph above. We know it’s way off but I like the idea of turning that graph upside down to get a picture of GBP v Euro
The piece in S.P.I. at the beginning of April on the stall in the rise of GBP – stuck around 1.19 – now looks a bit dated. At 1 a.m. BST last night Citibank had GBP=1.23 Euro. It’s 1.225 now but the rise seems set to continue.
To illustrate that things in UK may not be so gloomy as the doom-sayers are wont to have us believe, I’ve accepted an offer on my house of less than 2% off the asking, two weeks after it hit the agency’s listings. In case you think I priced low to achieve this, the asking was £5k more than the asking recommended by 3 other agents who did not get the job – and £25k more than one who must check in to the nearest clinic.
So, Spanish property prices falling, GBP rising – I’m going fishing for a bit.