I was looking through the excellent Mark Stucklin's Spanish Property Insight and came across some number crunching he has done regarding the price of property in each autonomous region compared with 2002. It makes for very interesting reading. Once we take inflation into account it seems that in the majority of the country it is now as cheap to buy a property as it was in 2002. There are a few surprises though. Madrid prices are a lot lower than they were ten years ago. The most interesting parts for me are that the highest drops are in the Canary Islands and Madrid. The Canary Islands I might be able to get my head around as to why but Madrid totally stumps me. Capital cities usually stand up to a recession and house price reductions better than the provinces as that is where the latent demand and jobs are usually situated. The real reduction in Barcelona is startling too although not as "hammer on head" in your face as the figures from Madrid. Valencia of course comes out of it somewhere in the middle with virtually stagnant prices in the period unless we take into account Alicante which drags the community average down (This is an easy explanation, the overbuilding of identikit coastal properties gave more of a boom and therefore there is more of a bust) The one that surprises me in real terms as still being up over the period after taking into account inflation is Murcia. And the best deal of course if you were going to go back in time and buy a place would surprisingly be in Córdoba. I would love some suggestions as to why Córdoba has fared so well with an increase of 35.8% even after the falls and just 14.2% drop from peak to present. Any ideas on any of the figures? Here are some people who may make interesting comments regarding their own areas @pierrewaters for Madrid, @alexbramwell and @matthewhirtes for the Canary Islands and @dreamingspain for Córdoba.