Spanish property prices are still falling, but less with every passing month, especially the property for sale in Costa del Sol according to the monthly house price index published by Tinsa, one of Spain’s leading appraisal companies.
Average Spanish property prices fell by 4.4% over 12 months to the end of May, show the latest figures from Tinsa. That said, prices actually fell a fraction compared to last month, even if they rose compared to the same month last year.
According to TINSA, the rate of decline in Spanish property prices has been slowing since June 2009, when it peaked at -10.1%.
If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year.
Coast and Islands doing best
Not Suprisingly, prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for holiday and retirement homes. Prices are down just 4.1% on the coast, and 2.4% in The Canaries and The Balearics. The Reason its not a major suprise is it is international buyers taking great advantage of the situation in place they want to buy.
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