House Prices Continue Descent

On a provincial level, the average price for dwellings is still falling. The average price per square metre over the province of Granada stood at 1,697 euros in November, which is almost 9% lower than November 2010.

Despite developers lowering the prices for new housing and tax incentives, Granada is still saddled with 20,000 empty new houses.

Anybody following, for example will have seen the constant descent over the months – but it’s not only Granada, but a trend over the rest of Andalucía, as well, but readers should take into account that Granada is the third cheapest of the eight provinces of Andalucía – Almería and Córdoba are 1st and 2nd. On a national level, Granada is the 8th cheapest province as a provincial capitals go, Granada is far cheaper than San Sebastian, for example, where the square-metre price stands at 5,519 euros, which is even more expensive than Madrid (3,313 euros).

The city of Granada has an average price per square metre of 2,206 euros with an inter-annual difference of only 3.44%. Building developers are resisting price drops with greater tenacity. But even so, gone are the fully-fitted-kitchens or garage-space included offers to attract buyers and price drops are appearing.

(News: Granada, Andalucia)

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