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Spanish property prices down by almost 6.9 pct over 12 months

Thu 10th Nov 2011

Spain´s Tasaciones Inmobiliarias S.A. (TINSA) - who work with public and private institutions to appraise Spanish real estate holdings - have revealed how the country´s house prices have fallen by more than 6.9% over the last 12 months.

According to their latest Index of Spanish House prices, which analyzed the results up to the end of October, showed how prices decreased the most in major towns and cities (8.1%) and major towns (7.5%), followed by the Mediterranean coast (6.9%) where there is currently a glut of unsold holiday homes.

Prices fell the least in The Balearic and Canary Islands (3.4%), where the differential between prices seen during the 2007 pre-crash peak to the present, are down on average 30.0% on the coast, and 20.5% on the islands.

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