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December 4, 2013

Spain Real Estate News, November 2013

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Price of property in Spain fell by 7.5 % in November 2013 compared with the same month of 2012.

According to a major real estate portal Idealista, even compared with the previous month in 2013, there was a drop in property values in Spain by 1.3%. Resale prices dropped in all the autonomous regions of the country. Since 2007, the cost of housing in Spain fell by more than 40 % in provinces such as Lleida, Zaragoza, Guadalajara, Huesca, Valencia, Castellón , Avila, Cuenca and Girona .

Despite the fact that many experts and the media are already saying that the cost of real estate in Spain reached its minimum, official data show otherwise. In particular, in November 2013 the prices of houses and apartments in Spain fell, and it happened in all the autonomous regions of the country. Big portal on the real estate market in Spain Idealista presents data on the 7.5% fall in property prices. The largest cost reduction occurred in the following autonomous regions: La Rioja (-5.2 %) , Navarra (-2.2 %) and Andalusia ( -2.2% ).

To be more precise data, the cost per square meter in November 2013 was established at 1,745 euros, which is 7.5 % less than a year ago, in November 2012.

Moreover, this figure shows what happened and cost reduction property in Spain by 1.3% compared to October of this year.

According to the portal Idealista can talk about that real estate has become cheaper in all provinces of the country without exception. At the same time, it can be selected the highest and lowest reducing the cost of housing.

Spain's capital Madrid is different at the slowest rate to reduce the cost of housing, this time by 0.3 %. In Galicia and Aragon almost level, -0.4 % in both provinces. At the same time the Basque region continues to be the most expensive autonomous region of Spain, the cost per square meter here is 2,896 euros.

Followed by Madrid Autonomous Region with 2,636 euros per m2 and Catalonia with 1,944 euros per 1 m2.

Most inexpensive to purchase a property in Spain can be called a region of Castilla – La Mancha (1,076 euros per m2 ) , Murcia ( 1,090 euros per m2 ) and Extremadura ( 1,103 euros per m2 ) .

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