Spain House Prices 2009
The average price of a 100 square meters newly built house in a Spanish capital was reduced to 258,900 Euros in the first half of the year, according to the report published by the Society of Taxation, almost 300 Euros less than the same period of 2008, equivalent to a reduction of 9.8% year on year.
The study attributes this decline to the slowdown in home volume sales, especially in tourist areas and the outskirts of the capital.
Over the past six months, the price decline has been repeated in all the capitals of the country. The phenomenon was particularly noticeable in Madrid, Valencia and Salamanca, although Valencia remains the third most expensive city in the country, with an average of 3405 Euros per square meter.
The most expensive city in Spain is Barcelona (4,041 Euros per square meter) and San Sebastian (3,802 Euros). The most affordable cities are Pontevedra, Lugo and Badajoz, ranging between 1387 and 1445 Euros per square meter.
The most pronounced decreases were recorded cities with populations exceeding 100,000. Here, the average price per square meter is about 2200 Euros, about 200 more than in the coastal villages.
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