Balearic House Prices Second quarter 2012
According to the National institute of Statistics, house prices have fallen in the Balearics by 15% compared to the same period (second quarter) of 2011. This is based on the House Price Index published on 13th September 2012.
By type of property, new construction has fallen by 15% and second hand properties by 14.1%
The housing ministry has the number of transaction down by 17.59% on the same quarter last year.
According to Tinsa, the Spanish Valuation Company, in the Balearic Islands house prices dropped 6.8% year-on-year to June 2012.
Spanish House Prices second quarter 2012
The nation-wide fall in house prices compared to the same quarter last year is 14.4%.
This is the highest fall since 2007. It is also the 17th consecutive quarter showing a fall.
The number of transactions has fallen from 90,756 to 80,235 with a variation of 11.59%