11:15 AM · Comments Off on Spain leads fall in new housing prices · Categories: News from Marbella Costa del Sol · Tags: , , ,

Although the price of housing in Spain has reduced its rate of decline, the fact is that Spain continues to lead the global slump, according to the global property guide the value of homes in Spain fell 9.46 % in the third quarter of 2013 compared to the same period last year. This figure is the largest decline in major real estate markets in the world.

Spain wins gold again by having the sharpest drop in housing prices worldwide, specifically country houses depreciated 9.46% between July and September last year compared with the same period in 2012.

According to figures from the global property guide specializing in the analysis of real estate portals worldwide web, Spain is again the country where the housing market showed the worse performance, ahead of others like Greece ( -8.85 %), Russia ( -8.18 %) and Romania ( -7.15 %).

Even countries that have suffered catastrophes show a significant change in trend, this is the example of Ireland where house prices rose 3.45% in the third quarter of 2013.

In particular if one looks at the rate of federal management agency housing ( FHA ) the price of U.S. houses rose by 6.72 % over that period, while the S&P/Case-Shiller home price Indices showed a rise of 9.43%.

Dubai is leading in price rises

Dubai ‘s residential market is the opposite of the Spanish, here the housing prices climbed 21.37 % between June and September last, year on year. The Dubai government has announced it is studying measures to curb property speculation and prevent it from another property bubble occurring again.

In general terms the housing sector worldwide is moving at very different speeds, although house prices rose in the third quarter of 2013 in 28 of the 41 countries surveyed by the global property guide, for many of them the value of the property is already moving in levels seen back in 2006-2007

On the other hand it was recorded that the 32 best-performing housing markets were between July and September last year over the same period of 2012 and only nine worsened.

global-property-spain

Figures supplied by the Global Property Guide (c)