Spanish Real estate portal Idealista estimated that in April of a property in Spain fell by 7,3% in annual terms. Per month average cost of housing has decreased by 0,8%, the Spanish Property Insight.
Related article: Polish housing prices have to fallThe price index for April from the portal Tinsa shows that over 12 months accommodation for the whole of Spain has fallen in price on 4,4%, and on the Mediterranean coast - on 6,4%.
Analysts at rating agency Standard & Poor's suggest that property prices in Spain will gradually decline over the next 12-18 months, and the number of transactions, by contrast, gradually increased. Experts argue that in order to completely absorb the excess supply of unsold real estate market will need a few more years.
Spanish bank BBVA specialists believe that in 2011, housing in the country will fall in price by 10%. According to their estimates, the strongest price collapse will be observed on the coast, where resort homes already stand at 20% cheaper than last year.
Analysts at the Economic Research Institute of Valencia (IVIE) believe that in 2011 property prices in Spain fell by 12%. A huge number of unsold objects and rising loan rates will further decline in prices.