Real estate in the secondary market of the Spanish capital has decreased in price by 54% since its peak in 2006, according to an online source SpanishPropertyInsight.com .
At the end of 2012, the average cost of secondary housing in Madrid decreased by 17.6% over the year and amounted to 1,818 euros per sq.m. According to a source, in 2006 the average price on the secondary housing market here was 3,900 euros per sq. m.
According to experts of the local real estate market, the drop in prices by almost 20% in 2012 indicates that the real estate market of the capital of Spain has not yet reached the bottom.
The level of price reduction in different areas of Madrid differs – the lowest decline in housing costs was recorded in the central part of the city.
HomesOverseas.ru
