Agricultural land prices have fallen far less than urban property prices claims the appraisal company Tecnitasa.
Subject to less speculation when the market was hot, rural property prices rose less during the boom, and have fallen much less in the bust, according to a report from the Spanish appraisal company Tecnitasa.
Whilst average house prices have fallen 31pc since peaking in the second half of 2007, rural property prices have only fallen 7pc since peaking in early 2010, according to Tecnitasa.
Juan says:
Once again denial reigns supreme! If you are speaking about land prices they are 25-33% down on 2006. I can only speak of the Valencia region but a continued optimistic outlook is not how to handle a difficult situation. Could I respectfully ask that you examine what you are fed and make an estimate of its validity
Frustrated.
Juan
Juan
Helen says:
we purchased a new build in a rural agricultural area – real Spain in latter half of 2007. we rue the day, our 123000 euro (plus the extra 5000 spent on it) property is now virtually unsaleable, last property sold same as ours went for 27000 euros. So I find this report false.
Dave says:
Our ‘rustica’ north of Valencia, is worth the same now as we paid in 2002. It had doubled in value by 2007. This indicates at least a 50% drop in rural property values since then.