Apartment Prices Fall

The price of apartments fell by 10% in the fourth quarter of 2012 in relation to the same time period in 2011.

This puts the average price, per square metre, at 1,531 euros, which is equal to the 2004 figure; i.e., before the brick bubble began. These figures come from the Ministerio de Fomento, by the way.

Put another way, if you take prices over the last five years into account, which is how long the present economical crisis has been raging, prices have fallen a total of 27.1% since the peak period of 2008.

However, this is all based on the 4th quarter of 2012, but if you based it on the difference between the 3rd quarters of 2012 and 2011, the drop would be 2.2% as opposed to 10%.

(News: Spain)