PropertySPainPRICES of new-build properties are decreasing at a slower rate for the first time since the financial crisis.

The real estate valuation firm Sociedad de Tasacion reported that the rate of market price decrease has slowed considerably, dropping by just 0.4% in the second half of 2014.

Across the year, average newbuild prices dropped by 2.2% to €1,994 per metre-squared.

This decrease was 7.8% in 2013 and since 2007, the average price has fallen by a total of 40.2%.

However, the report concludes that market price is likely to continue decreasing this year, as demand for new-builds remains low.

Tom Powell

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