In March, the average house price fell gradually, year after year, to 10.7%, compared with 11.6% drop registered in February, after tax benefits for home ownership were removed from January 1st 2013.

Considering the drop in March, the cumulative realignment of housing prices has come out at 36.3% from the highs it reached in December 2007, before the beginning of the economic crisis.

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Metropolitan areas suffered the largest declines in March, with house prices falling by 14.3% year on year, followed by capitals and major cities, with an yearly decline of 13.7%, and then the Mediterranean coastline, where the prices fell 10.7%, year after year, that coincides with the overall average.

Below average are the Balearic and Canary Islands, a decline of 5.2% annually, and the remainder of their municipalities that fell 6.3%.

Since December 2007, the cumulative decrease in house prices has reached 41.9% on the Mediterranean coast, 40.3% and in major cities, 39.5% in metropolitan areas, 29.6% in other towns, and 29% in the Balearic and Canary Islands.