Spain: Property Prices Steady

Spanish property prices remained robust in June, despite recent predictions that the market would suffer, according to figures released by Spanish Property portal Kyero.

Figures show that the Spanish average property price remained static at €250,000 (£167,500) for June.

Two months on from the stock market slump average property prices in the ever popular Malaga province have not fallen as expected but in fact have risen by over 1.5% from €310,000 to €315,000 .

Similarly average property prices in Alicante province have remained stable at €250,000.

The Canary Islands (Tenerife, Fuerteventura and Gran Canaria – average property price of €230,333) remain significantly cheaper than the Balearic Islands (Mallorca and Menorca – average property price €402,000).

Average property prices in Seville have increased by €20,000 in the last month, from €160,000 in May 07 to €180,000 in June 07 yet remain 28% below the national average.

Anecdotal evidence from people living on the Costa del Sol suggests that the market there is extremely varied, with some home owners having to drop their prices to make sales and others selling extremely quickly.