Resale housing prices fell more gently in the third quarter of 2011
Resale housing prices fell more gently in the third quarter of 2011 (-0.5%) to stand at €2,167 per square metre. the summer relaxed the market price
decreases: while in the second quarter 80.8% of the municipalities price cuts, three months later the figure has come down to 68.3%.
Five autonomous communities have concluded the fiscal quarter with increases in their resale housing prices: the canary isles (1.1%), Valencia (1%), Asturias (0.7%), Cantabria (0.2%) and Murcia (0.2%). in euskadi prices remained unchanged (0.0%), whereas the most significant falls were seen in Aragon (-3%) and la Rioja (-2.5%).
Principal capital cities
During the third quarter of the year, resale housing prices in Barcelona continued their downward procession: a fall of 2.7% leaves its square metre costing €3,650, almost the same as that recorded in the third quarter of 2004, when it lay at €3,743/m2 . in yearon-year terms, the city has recorded a decrease of 10.5%. since reaching its all time high in the first quarter of 2007 (€4,888/m2 ), Barcelona has accumulated price falls of 25.3%.
Resale housing prices continued spiralling downward in Madrid during the third quarter of the year. the capital suffered deceases of 0.6%, its prices now standing at €3,553/m2 , a figure below that being asked in the first quarter of 2004 (€3,603/m2 ). The year-on-year figure comes to –6.7% if we take its all-time high as our reference, achieved in the capital in the second quarter of 2007 (€4,315/m2 ), the aggregate fall reaches 17.7% .
Valencia strings together 15 consecutive quarterly falls in resale housing prices. During the third quarter of 2011, square metre prices underwent a 0.6% decrease to stand at €2,171. The year-on-year fall is 6.1% the cumulative fall since Valencia reached its top price during the second quarter of 2007 (€2,861/m2 ), totals 24.1%.
The other big markets also saw their prices fall. The biggest decrease was in Zaragoza (-4.4%), followed by Seville (-2%), Bilbao (-1%) and Palma de Mallorca (-0.1%)
