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House prices continue to fall in Spain

Source: Xinhua - Thu 16th Dec 2010

Figures published Thursday show that house prices continue to fall in Spain.

The National Institute of Statistics' (INE) monthly figures show that in the third quarter of the year, house prices fell by 2.2 percent when compared with the same period in 2009.

The price of new houses is falling by a greater percent than accommodation that has previously been lived in. New houses were 2.6 percent cheaper in the third quarter, while in the second quarter of the year the fall was just 1.7 percent.

In contrast, the price of second hand accommodation fell by just 1.8 percent between July and September, while it had remained stable over the period between April and June.

These figures are published just three days after the sales figures for October showed that house sales for the month dropped below the 30,000 benchmark for only the second time in three years.

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