Spain’s official annual property index fell by 13% in 2009 giving a combined fall of over 20% in the last two years. However the experience of most home owners in Spain has been that prices have fallen by up to 50% since their peak in 2007. 

However, according to the Spanish Institute of statistics there is some movement in 2010. There appears to be a small general rise of 2% in the first few months of 2010. This is the first positive growth in three years. The growth areas appear to be Cantabria, Navarra and Madrid.