According to Tinsa, average residential property prices in Spain fell by -10.1% over 12 months to the end of June, whilst new figures from the Spanish Ministry of Housing indicated that prices fell by -8.3% over the same period, not including social housing.

Tinsa believes that residential property prices on the coast are down -12.3% over the last 12 months. Price declines on the coast eased ever so slightly compared to May, when they fell -12.8% year-on-year, thanks to a small summer sale bounce. Next came big cities and provincial capitals, including Barcelona and Madrid, where prices dropped by -10.5% on average. Spanish property prices in the suburbs fell by -9.9%, and by -9.3% in The Balearics and The Canaries respectively, where prices falls were steeper in June compared to the previous month.

Average prices are now -13% off the December 2007 peak, according to Tinsa, and prices on the coast are down almost -18% off the peak.

The Ministry of Housing has also published its price index for Q2 2009, showing that prices fell by -8.3% over 12 months to the end of June. Prices fell just under -2% on a quarter-to-quarter basis, and fell in all regions save the Spanish territories in North Africa of Ceuta and Melilla. According to the Ministry, prices are down the most in Cantabria (-10.1%), followed by Madrid (-9.8%), Asturias (-9.3%), The Valencian Community (-9%), The Balearics (-9%), Murcia (-8.8%), The Canaries (-7.8%), Andalucia (-7.6%), Galicia (-7.5%), Catalonia (-7.2%), and Extremadura (-1.1%).