Update on Spanish Property Prices - December 2010

The most relevant information regarding property prices in Spain now that we are in a new month / year.

• The average asking price for resale property in Spain is 2.262 Euros per square meter, which equates to a decrease of 0,6 % in relation to November.
• The annual variation (Dec. 2009 – Dec. 2010) registered a decline of 3,8%
• The index of the real estate portal fotocasa.es, with a base of 1.000 in January 2005, is now situated at 943 puntos

Prepared by the IESE Business School, the fotocasa.es Real Estate Index aims to be the benchmark in the evolution of house prices in Spain. To perform the analysis the average house price in January 2005 has been used to provide an initial value of 1,000 points. The fotocasa.es Real Estate Index reflects the trend of the market based on the asking price and not the final sales price.

The indications are that in general, asking prices in Spain are below the asking prices of January 2005, and the final sales price may be another 10 to 20% below the asking price.

On a positive note, prices in our local market, the North Costa Blanca (Marina Baixa) are showing a recovery since the middle of 2010, as can be seen with the table below showing the asking prices for Benidorm throughout 2010.

servicio ofrecido por www.fotocasa.es lideres en venta y alquiler de pisos y casas