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House prices in Spain have fallen to levels 2003 year

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Company Tinsa (Tasaciones Inmobiliarias), released the next quarterly release, which said that during the crisis the average cost of housing in the country fell by 41.4%. Between the annual decline, according to the end of March this year, was 2.8% corresponds to the figures recorded in 2003.

Experts enterprise emphasize that the rate of decline in prices slowed down – in the first quarter of 2015 residential buildings fell by only 0.4% (in the first three months of 2014 – 0.6%).

In the municipal centers and smaller towns (with a population of 200 thousand people) the reduction was 3.8%. In the provincial capitals housing cheaper by 2.1%, in the Balearic and Canary Islands – 1.7%.

In March of this year recorded an increase of price indices (0.2% compared to March 2014) in the category “housing, located along the coastline of the Mediterranean Sea.”

The level of maximum prices for the period since 2007 has dropped more than the average. Most notably, this process is manifested on the Mediterranean coast – 48.7%. In provincial capitals and major cities peak prices fell by 44.9%, in the municipal centers – by 35.1%, on the Balearics and the Canaries – 32%.

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