Mixed price picture in Spain

26/8/2008

House prices in Spain are displaying a variety of trends, with rising costs in some areas and falling values in others.

Barcelona and the surrounding region has experienced a 46 per cent fall in the number of transactions, reports Spanish Property Insight.

Despite this, the prices of new builds were 11.6 per cent higher by the end of the first quarter of 2008 compared with the same period last year.

Those looking for an investment property overseas may wish to consider buying in Madrid, which has experienced a decline in the cost of new developments, with the average price falling by 1.9 per cent.

Resale prices in Barcelona also followed the new builds trend with a rise of 4.6 per cent, while Madrid saw a fall of 0.5 per cent.

A Spanish property expert recently told the Financial Times that prices have "softened at all parts of the market", adding that while sales takes longer, "business is still being done".

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