The housing market in Spain may be nearing its bottom point.
Prices are falling, but at their slowest rate since the financial crisis struck in 2008.
Across the country, the average drop was just -3%, the smallest annual decline in six years. Some areas have begun to see a modest rise, such as the Canary Islands.
In the 12 months to June 2013 there was a national average fall of 11%, which is exactly the same as had occurred in 2012.
The six-year slump is considered to have seen price drops of between 40% and 50% across the country, depending on the measures used. Some areas, however, suffered worse declines of 60% or more.
A number of observers believe, and hope, that the faint fall this year marks the bottom of the market.
The website Global Property Guide, which provides authoritative research on a range of overseas property markets, said the data showed Spain’s housing market "is now recovering, amidst gradually improving economic conditions".
The site also pointed to data from Spanish converyancing trade body which showed that Britons accounted for the highest proportion of expat sales (nearly one property in five), followed by French, Russian and Belgian buyers.
In 2007, before the market collapsed, Brits accounted for a third of sales to foreign buyers.
