ANDALUCIAN property valuations registered the largest drop in the country during the third quarter of the year.

The average property in the region is now worth 10% less than during the same period last year, compared with the national average of 9.3%.

Properties are on average 38.1% cheaper than they were in 2007, according to Tasaciones Inmobiliarias.

Rentals also dropped 1.4% in the three months to September 2013.

Current valuations are a far cry from the record highs seen in 2007 of €8.41 per square meter per month.

Despite the general downward trend, properties in some Andalucian towns did increase in value over the period.

The largest increase was seen in Armila (3.9%), followed by Ogijares (2.9%) and Fuengirola (1.2%).

About Liam Kirkaldy (Reporter)

2 COMMENTS

  1. All prices from apples to aeroplanes are set by supply and demand and with swathes of empty properties prices will continue downwards in Andalucia with the exception of a few small pocket areas and urbanisations.

    Oh and don’t forget you have to add 10% VAT to the final price up from 7% since the crash .

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