Fotocasa.es Real Estate Index Shows First Signs of Recovery

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According to the fotocasa.es real estate index for January, prepared in collaboration with IESE researchers, the average price of real estate in Spain underwent a slight rise of 0.6 percent with respect to the previous month. As a result, the country’s average real estate price moved up to 2.366 euros per square meter (€/m2), the first positive monthly variation to be reported by the fotocasa.es index in 24 months. January 2010 also saw a positive quarterly variation (calculated from October 2009 to January 2010) of 0.0%, suggesting that prices in the country are finally stabilizing.

The data reflected in the fotocasa.es index shows that the fall in average real estate prices actually began slowing back in the second quarter of 2009. A quick look at the quarterly variations in 2009 shows that the first and second quarters registered price decreases of  -4.8% and -3%, respectively, whereas in the third and fourth quarters respective falls of only -1.6% and -0.9% were recorded.

You can access the full report from the fotocasa.es website.