Cheap property Spain - TINSA Produces Report

Within the last 12 months, prices within the Spanish market fell by 9.2% according to a report published by TINSA. (One of the biggest property valuers in Spain).

The figures demonstrate an  improvement on the numbers produced for the last four months, where a recorded drop of 10% per month had been recorded. This is an indication that prices are bottoming in certain areas. The largest drops happened within the coastal real estate markets, with some areas falling by 10.9% although this is slowing from the figures in April that were closer to a 14% decrease.

The correlation between the massive increase in costal areas in the boom and the acute drop, point heavily towards the influx of investors that flocked to the tourist areas and susequently pushed prices up artificially. The slow down in price decreases can also be attributed to the slight easing in bank lending and recent favourable European economic news, encouraging some buyers to return to their quest to find a holiday home.

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