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- Liva & Laia : 15th November
Spanish property prices fell even further during the month of August, with a 6.8% decline on the same period last year.
This represented the third consecutive month of falling prices, and means that the country's average prices now stand at 23.5% below the peak prices of Q4 2007.
Prices fell by the most in the regional capital cities and on the Mediterranean Costas, where the decline was in excess of 7%.
Property prices in Spain's cities now stand at 25.6% below the 2007 peaks, 23.4% in urban areas and by 21.1% in the Balearics.
With the total number of unsold properties numbering and estimated 900'000, property prices are expected to fall further still before a recovery in the market will be seen.
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