Spanish Coastal Real Estate Hit Hard By Market Downturn: "Residential property prices in Spain have fallen between 3.7% and 5% over the 12 months to the end of September with the popular coastal regions taking the worst hit.
The latest figures from the Ministry of Housing show prices down 3.7% while the Tinsa index is down 5% year on year.
The average price of property is €1,832 per square meter, down from €1,903 per square meter a year ago, according to the figures from the Ministry of Housing.
But on a regional basis popular locations like Alicante on the Costa Blanca and Malaga on the Costa del Sol are down around 20%, the ministry figures also show. However, prices on the Costa del Sol are still more than double what they were a decade ago.
The Tinsa index fell 5% in September, compared to declines of 4.6% in August, and 4% in July. Up until then prices had been trending towards smaller declines, suggesting they might even make it into positive territory on an annualized basis before the end of the year"
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