Home >> News >> Property prices Canary Islands decrease by 6,7 % in January
Property prices Canary Islands decrease by 6,7 % in January
By: Sven Grossenbacher Published: Tue, Feb 9th 2010, 12:25
Property prices in Spain, according to the monthly index compiled by Tinsa, fell 5.5% in January compared to the same month last year. The index shows a slight slowing of the collapse in property prices compared to the previous month of December, where the decline was 6.6%. According to Tinsa the Mediterranean coast showed the largest decrease of property prices of 7.1%, the Balearic and Canary Islands 6.7%, Metropolitan Areas 6%, larger cities 5.9% and the remaining municipalities 3.6%. Although the interannual drop in prices slowed down, the cumulative decline of property prices since its hights in october 2007 is increasing to 15%.
All zones analyzed, except the Mediterranean coast, the Canary Islands and the Balearic Islands which recorded a similar decline as in previous months of 2009, slowed down the decline of property prices. The cumulative decline in the Mediterranean coast is 20.5%, Metropolitan areas 17.8%, large cities 15,4 %, Balearic and Canary Islands 14.6% and the remaining municipalities 13.5%. Development of the Spanish real estate index in 2009: