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Spanish property prices fall below rebuild cost

Source: TINSA / INE - Mon 18th Feb 2013
Spanish property prices fall below rebuild cost

Real Estate valuation professionals, TINSA, have reported how privately owned properties scross Spain homes are being increasingly advertised on the market for less than their replacement build cost.

A report published by the agency shows statistics indicating how prices across Spain on average fell by 13.8% between the end of January 2012 and the end of January 2013.

Data suggests that in general property prices are still falling, with analysts predicting that prices will continue to fall by a further 10% - 12% before the market will stabilise.

However, even "bargain prices" are seemingly not having the indended effect, with the National Institute of Statistics (INE) reporting just last week how the sale of residential properties across the country's major towns and cities fell by 11.3% during 2012.

Whilst this is undoubtedly not the best of news for those with a property on the market, the strong position that the buyer would find themselves in, makes now a fanatstic time to buy a property in Spain.

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