Spanish property prices fell by 2.6% in the third quarter this year, compared to the same period in 2013. However, the annual decrease in Q2 was 2.9%, according to the latest stats from the Housing Department in the Ministry of Public Works, showing that price falls are slowing.

This latest price adjustment brings the average house price in Spain down to €1,456sqm. The latest quarterly fall is also the lowest on record since the end of 2008 when the Spanish property bubble started to burst. In terms of quarterly rates and comparing the third quarter with the second, it could be said that changes in prices have stabilised after registering a minimal decrease of 0.2%.

In regional terms, the biggest quarterly price drops were in Navarre (-7.5%), Extremadura (-5.5%), Murcia (-5.2%), Aragón (-4.3%), and La Rioja (-4.3%).