Average house prices in the Canary Islands fell by 11.5 per cent in August, compared to the same month last year, slightly less than the national average of 11.6 per cent over the same period.
The latest government figures confirm that house prices in the archipelago have plunged by a dramatic 30.2 per cent since the highs of December 2007, again lower than the national average of 32.4 per cent over the same period.
Although a disaster for homeowners in the islands, their woes are almost dwarfed by those in some parts of the Mediterranean coast, who have seen the value of their properties fall by almost 40 per cent.
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