Spanish properties are now as low as €169,000. Experts believe that this year (2009) will be the best time to take advantage of Spain real estate properties since prices will apparently fall. According to Spain’s official House Price Index, this year the average Spanish property prices have dropped by three percent in twelve months towards the end of third quarter. The index suggests that the price drops hastened near year-end. Second-hand housing, or more locally resale properties in Spain, is more terrible than newly built ones. The prices of resale properties drop by 8.6% in twelve months by September-end, compared to the increase of 3.7% for properties newly built. The statistics of the index has been printed showing only the last two quarters, which illustrate the most positive of all indices, although merely a well-done propaganda. However, if indicated indices confirm the prices you are certain is real, the situation is apparently worst.

Regional prices of properties drop the most in Catalonia by (-8.3%). It is followed by Madrid at (-7%) and the Balearics at (-2.6%). On the other hand, a rise in prices has shown Extremadura at 2.9%, the most. Murcia is at 2.1%, Andalucia at 1.1% and the Canaries at 0.6%. The figures revealed in Murcia and Andalucia however are hard to believe since actual condition reveal that it is far different.

In the end, regardless of what news and accurate information the Index may show, the right time to invest in Spain’s property market would most likely be around this year’s second half. Many claim that it is the best, if not the ideal period to enter the Spanish market, since a lot of investors and buyers will be waiting on the slots and are in the position to buy if they are able to get a reduction of ten percent. Spain is only one of the principal countries leading the real estate industry. Properties are put on sale regularly in destination hotspots such as Mallorca, and great deals are found in the Balearics, while Costa del Sol have just as many properties to sell.