Persistent property market fluctuations

The recently released Tinsa report shows that there is still no end in sight to the instability in the real estate sector of Spain.

According to Tinsa, “the biggest price falls are in provincial capitals and large cities with a decline of 4.9%, while house prices on the Mediterranean coast were down 2.3% and in the Balearics and Canaries there was a fall of 2.1%.”

The report also added that its property data for the month of May reveals that 'Average national house prices were down 3.6% year on year but this global figure hides considerable regional variations.'

The Spanish government’s official data seems to support this data. It shows that 'The average price for Spanish property fell a 0.11% in the first three months of this year, the smallest quarterly decline since the economic crisis began and down from a fall of 0.36% in the last quarter of 2014.'

According to PropertyW, 'A regional breakdown of the figures shows that seven autonomous regions registered year on year price growth led by the Canaries up by 3.56%, Aragon up 1.9%, Madrid up 1.67%, the Valencian Community up 0.69%, Extremadura up 0.57%, the Balearics up 0.1% and Andalusia up 0.05%.'

The property sector in Spain is currently in a deep slumber.