not one , not two … Spain takes four quarters to lead the ranking of declines in housing prices in the euro area . from the second half of 2012 has caught the national brick over from Ireland in the fall , one of the victims of the housing boom, to star in the biggest slump in house prices in all euro countries last year ( -13.7 %)

to Spain is having difficulty digesting the adjustment housing prices more than other countries in the euro zone. in the last twelve months, the country has led the declines in the value of homes on-year . only once during this period Spain was relegated , however little, to second place . this occurred in the fourth quarter of last year when the price of houses in greece cut by 13% compared to 12.8 % of Spain

the leadership of the Spanish residential market in lower prices in the euro area occurs after the falling value of homes in Ireland has moderated . so -called Celtic Tiger was in the first half of 2012 the country ‘s cut the price of housing. in particular, fell 17.2% in the first quarter and 15.4 % in the second last year on year

in those months , the value of houses in Spain depreciated by 12.6% and 14.4 % , respectively. however, unlike the Irish case in Spain falls rates have not only moderate but have even increased. for example, between July and September 2012 , this figure fell 15.2 %