The cost of holiday-homes in Spain’s ski resorts has fallen by as least as much as homes on the coast.

The Spanish property bust is hitting the price of property on the coast hard, but it turns out that holiday-resorts in the mountains have not escaped the carnage, according to a report by the Spanish news site El Confidencial, based on data from the property portal idealista.com.

The average cost of property in Baqueira Beret – Spain’s best and most upmarket ski resort situated in the Catalan Pyrenees – has fallen from 8,000 euros/m2 before the bust to 4,000 €/m2 now, and from 6,000 €/m2 to 3,000 €/m2 in Formigal, in Aragonese Pyrenees.

Banks like Santander are selling property in Baqueira Beret below even the 4,000 €/m2 mark, reports El Confidencial.

The following table from El Confidencial shows the annual price change in the last year for the main ski regions, including Andorra.