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News: Pain in Spain as prices plummet

Mon, 10 Sep 07

According to the ‘new look’ Kyero.com Spanish House Price Index, average property prices in Spain have fallen 1.2% from €250,000 to €247,000 over the last 3 months (June – August 2007)...

Alicante, located on Spain’s east coast, is now the province most representative of the average property price of €247,000 whilst Malaga province remains the most expensive popular destination amongst Britons with average property prices of €310,000 - 26% above the national average.

Catalan-speaking Barcelona, Mallorca and Girona top the Index as the most expensive in Spain with average prices of €621,000, €429,000 and €425,000 respectively.

Bargains are still to be had inland with the provinces of Cordoba, Albacete and Jaen offering the lowest priced properties (averaging €148,000, €142,000 and €91,000 respectively).

The Canary Island of Fuerteventura, despite a doubling of population since 1998 (49,020 in 1998 to 105,000 Jan 2007 – Spanish National Institute of Statistics), still offers bargain island living with average property prices an attractive €229,000.

For more information please download the latest Kyero.com Spanish House Price Index: http://www.kyero.com/price_index/

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