Average Spanish asking prices hit 2,952 €/m2 in April 2007, and since then have fallen 41pc at a national level, according to property portal Fotocasa.es. La Rioja -52pc, Aragon -47pc, Castilla La Mancha -46pc the most, Galicia -32pc, the Basque Country -32pc and Castile and Leon -33pc the least. The number of regions with double-digit declines fell from 13 in June to 5 in December.
Barcelona Old Town leads asking price rises
Asking prices rose in 17 municipalities and 11 city districts
By municipality, prices rose the most in Pilar de la Horadada, in on the border of Alicante and Murcia, up by 17pc, followed by Atarfe (+14pc), Manacor (+14pc), and Manilva, on the Costa del Sol (+11pc).
Looking at city districts, prices rose in 9 districts in Barcelona, and 2 in Madrid. Barcelona’s Gothic Quarter led the way, up 30pc, followed by Barcelona’s Santa Caterina district (+8pc), and Dreta or Right Eixample (+6pc). In Madrid house prices rose 2pc in Manoteras- Sanchinarro and 0.2pc in Cantoblanco.
It might be a sign that the market has reached the bottom in certain areas – properties with lower/realistic prices are starting to sell so the average asking price increases because the data is being more influenced by the properties with higher/unrealistic prices, and which still aren’t selling.
Everything you need to know about property in Spain
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