TINSA March 2011

TINSA property valuations continue to estimate that the Spanish Property Market is in decline. They estimate that Spanish residential property has declined by 4.5%, with the Mediterranean coast showing the steepest price drop at 6.7%

The latest TINSA report can be downloaded here

TINSA market can be broken down into different areas:

• Balearic Islands / Canary Islands -0.8%
• Large Cities / Provincial capitals -5.2%
• Metropolitan areas -5.4%
• Mediterranean Coast -6.7%
• Everything else ( Inland / Rural properties) -3.3%

The index indicates that the Canaries and Balearic's Islands are close to the bottom of the curve.

Some analysts have been proclaiming that the price decline has already hit the bottom, however the conditions that have pushed prices downward continue to act, and Spain's wider economic woes continue.

Those looking to buy on the Mediterranean coast should continue to wait or consider renting property until the market hits the bottom.

Those buyers looking for a property in Mallorca, Ibiza, Menorca, should probably start bargain hunting.