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Spain property prices continue to fall
The average price per square meter of Spanish residential property stood at 1606.40 at the end of June, with a quarterly fall of 2.6% and 8.3% year on year.
According to the report issued by the Ministry of Development, the average price per square meter has fallen 23.6% since its peak in Q1 of 2008. where prices were slightly above the 2'000 mark.
Meanwhile, the average price per square meter of properties for sale up to 2 years old stood at 1,645.0, with a variation in decline of 7.1%.
The cost of resale properties over 2 years old reached an average of 1593.3 per square meter, down 8.4% year on year.
The average price per square meter of all properties in Spain was 1157.10, almost the same as in Q1 of 2012. The variation over the same quarter of 2011 shows a fall of 0.4%.
The average cost of Spanish Property throughout the whole of the country during Q2 of 2012 came to 85,911, representing a deccrease of 2.0% compared to Q1 of 2012.
The report - which depicted an average national decrease of -8.3% - went on to show the results by region : Andalusia and Catalonia both saw decreases of 10.8%; Madrid -9.7%; Aragon -8.9%; and Valencia -8.4%.
Regions which fell below the average are Cantabria (-0.6%), Ceuta and Melilla (-2.0%), Basque (-2.4%), Murcia (-5.4%), La Rioja (-5.6%), Navarra (-5.8%), Asturias (-6.0%), Castilla y Leσn (-6.2%), Extremadura (-6.7%), Canary (- 6.8%), Galicia (-7.1%), Baleares (-7.1%) and Castilla La Mancha (-7.3%).
The highest property prices in municipalities with more than 25,000 residents were in San Sebastian, 3856.7 /m2, Getxo 3282.0 /m2, Leioa, 2935.0 /m2, Majadahonda, 2923.6 / m2, Renteria, 2780.3 /m2 and El Prat de Llobregat with 2755.5 /m2.
The lowest property prices for municpalities with more than 25,000 inhabitants were Elda 736.8 /m2, Tomelloso 740.4 / m2, Crevillent 740.6 /m2, Hellin, 744.8 per m2 and Villarrobledo, 746.8 per m2.
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