Real estate Spain

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Francisco González Aragón Group moderator
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All the latest property price indices and house price forecasts from Spain
All the latest property price indices and house-price forecasts released in the last week agree that prices are still falling and will continue to fall.

■ INDICES

Idealista asking price index in April: -7.3pc over 12 months, -0.8pc over one month. This index shows vendors dropping their asking prices at an increasing rate.

Tinsa house price index April: -4.4pc over 12 months, -6.4pc on the Mediterranean Coast.

■ FORECASTS

Standard & Poor’s, a ratings agency: Prices to continue falling over the next 12-18 months but not dramatically. Transactions expected to continue their modest recuperation. They say it will take “several more years to completely absorb the excess supply.” Replace “several” with “many” and they aren’t far wrong.

BBVA, a Spanish bank: Price falls of 10pc on average in 2011, on top of falls of up to 50pc already accumulated on the coast. BBVA say holiday-homes on the coast fell 20pc in value last year.

The Valencian Institute of Economic Research (IVIE): Price falls of 12pc on average in 2011, on top of a fall of 20pc accumulated since 2008. Spain’s chunky glut of homes and rising interest rates will keep prices going down for the time being, argue this Valencian outfit.

Regarding IVIE’s point about prices falling more in real terms, after inflation, prices are back to where they were in 2003 / 2004, but they still have further to fall.

Tables, graphs and charts at Spanish Property Insight: http://bit.ly/mpOHZa
- 02 Jun 2011, 12:48 pm
Francisco González Aragón wrote: > All the latest property price indices and house-price forecasts > released in the last week agree that prices are still falling and > will continue to fall. > > ■ INDICES > > Idealista asking price index in April: -7.3pc over 12 months, -0.8pc > over one month. This index shows vendors dropping their asking prices > at an increasing rate. > > Tinsa house price index April: -4.4pc over 12 months, -6.4pc on the > Mediterranean Coast. > > ■ FORECASTS > > Standard & Poor’s, a ratings agency: Prices to continue falling over > the next 12-18 months but not dramatically. Transactions expected to > continue their modest recuperation. They say it will take “several > more years to completely absorb the excess supply.” Replace “several” > with “many” and they aren’t far wrong. > > BBVA, a Spanish bank: Price falls of 10pc on average in 2011, on top > of falls of up to 50pc already accumulated on the coast. BBVA say > holiday-homes on the coast fell 20pc in value last year. > > The Valencian Institute of Economic Research (IVIE): Price falls of > 12pc on average in 2011, on top of a fall of 20pc accumulated since > 2008. Spain’s chunky glut of homes and rising interest rates will > keep prices going down for the time being, argue this Valencian > outfit. > > Regarding IVIE’s point about prices falling more in real terms, after > inflation, prices are back to where they were in 2003 / 2004, but > they still have further to fall. > > Tables, graphs and charts at Spanish Property Insight: > http://bit.ly/mpOHZa

Real estate Spain

All the latest property price indices and house price forecasts from Spain