November 2010 TINSA price index

The November (For October 2010) price index indicates that Spanish Property prices are continuing to decline.

Download the TINSA index for spanish property

TINSA estimate that prices are falling at an interannual rate of an estimated 4.6%, at the same time the Spanish national institute of statistics have recorded an increase in property transactions.

TINSA base there Spanish Property price index on valuations, so they should be taken as collective opinion of valuers rather than hard fact.

Prices are decreasing as vendors lower there prices in order to attract the scarce number of buyers.

Banks are revising the prices of properties they have repossessed over the few years. In order to clear properties banks are having to cut prices in order to get the property off their books.

Banks are sometimes offering 100% loan to value mortgages, often for the value of the outstanding loan at the time they where repossessed. It should be pointed out that many properties from the banks don't offer value for money, as similar properties can often be purchased for less.

On the other side of the coin an investment fund Taurus Ibérica has been set up with a view of purchasing bargain properties and turning them round quickly in order to make a quick profit.

It is expect that as serious investors come into the market, who aim to make a quick profit when the market bottoms, this will be the time to buy.

The general advice to buyers out there is to either wait as prices to continue to fall or if you can find a property at considerably lower than the market value.