Housing slump in Andalucia

LAST UPDATED: 1 Nov, 2013 @ 20:11
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Housing slump in Andalucia

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%).

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2 COMMENTS

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  1. Could that be because it has the greatest number of millionaire boltholes, so when they bring their prices down, it is by a comparatively big chunk to say a twenty grand townhouse in Extemadura?

  2. 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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