Everything points to the fact that housing prices in Spain have reached the minimum values, but at the same time continue to fall. These data indicate real estate portal Fotocasa the one hand, the price of second-hand housing in August 2014 recorded the highest monthly increase in the last eight years; but compared to last year, prices continue to fall, this time by 6.3%.
According to data published on the website of real estate, the average price of resale property in Spain in August 2014 was 1,656 euros per square meter, and therefore, the monthly increase was 1%. This is the second increase recorded this year, as the price of second-hand properties registered in January 2014 a moderate growth of 0.2%.
Of the 368 Spanish municipalities analyzed, property values rose and fell 179 178. The increase in the cost of housing in Spain in August 2014 is the highest since April 2006, when prices rose 1.1 %. Therefore, it is also the largest increase in property prices over the past 8 years.
In terms of annual changes, property prices in August 2014 decreased by 6.3%, representing a slowing decline compared to August last year, when prices fell by 9.7%.
Therefore, the average price of resale property in Spain, has dropped by a total of 43.9%, from its historical peak in April 2007.
In particular, in the ten regions of Spain this fall in prices was more than 40%. La Rioja is the autonomous region, where housing has fallen in price more than others (-54.4%), followed by Navarra (-50.1%), Aragon (-49.7%), Castilla-La Mancha (-48, 8%), Murcia (-46.6%), Catalonia (-46.5%), Valencia (-45.6%), Madrid (-44.5%), Andalusia (-42, 9%) and Asturias (-42.4%).
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