Property prices fall over 20% in the Canaries

The average price of property has fallen 20.5% in the Canary Islands since they reached their highest value, while during the month of October 2011, they dropped by 3.4% when compared the same month last year (2010). In the whole of Spain, the average price of housing fell by 6.9% in October compared to the same month in 2010 accumulating a fall of 23.7% since its peak in late 2007, according to data released by Tinsa on Tuesday (8th November 2011).

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