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The average asking price for pre-existing homes in Spain dropped in April for the first time in 27 months, pulled lower by markets in the country’s jobs-poor regions, real estate website Fotocasa said.
The 0.5 monthly reduction cut the year-on-year price increase to 7.1 percent, according to the property-advertising service owned by Norway’s Schibsted ASA. While the more sparsely populated regions of Galicia and Navarra had monthly dips of 2.4 percent, prices in jobs-rich Madrid and the Basque Country had increases.
Prices across every region of Spain have failed to fully recover from the real estate collapse almost a decade ago, with the accumulated decline ranging from 52 percent in the wine-growing region of La Rioja to just 5.2 percent in the tourist favorite of the Balearic Islands in the Mediterranean, according to Fotocasa, which says its service has about 17 million customer visits a month.
