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Spanish House Prices Fall 3% In Q1

Residential property prices in Spain decreased from the previous quarter in the first quarter, data released by The Ministry of Public Works showed Wednesday.

The house price index declined 3 percent quarter-over-quarter in the first quarter. On an annual basis, prices fell 7.2 percent during the period, following the previous quarter's 6.8 percent drop.

The average price per square meter of of a private house in Spain was EUR1649.3 in the first quarter, 21.5 percent lower than the peak price recorded in the first quarter of 2008.

For private houses over two years old, the average price per square meter was EUR1637.5, the agency said.

by RTT Staff Writer

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