PROPERTY prices are still falling in Andalucia, despite bottoming out in some areas of the country.
The average value of resale property stood at €1745 per square meter in November, down 7.5% year on year, according to Idealista.
This represents a monthly decline of 1.3% from October.
Decreases were noted across all regions, the lowest falls being in Madrid. Property values fell just 0.3% in the capital. Galicia and Aragon also reported minor falls of 0.4%.
Conversely, La Rioja prices tumbled 5.2%, while valuations in both Navarra and Andalusia were down 2.2%.
However, experts say the market is not too far from bottoming out and those thinking of investing in Spanish property do need to be quick.
Improving economics in the country – which is now officially out of recession – and an improvement in conditions in traditional investor countries, mean the real estate market could soon enjoy an upswing.
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