The fall in Spanish house prices is easing, according to new figures.
The decline in values of Spanish property fell at a slower pace in the first quarter, dropping 4.5%.
But the market is still some way from turning positive, government data showed.
The year-on-year decline in the first three months of the year, according to data released by the Housing Ministry, was a small improvement from a 6.2% annual fall at the end of 2009.
Prices were falling by a record rate of 8.2% in the second quarter of last year.
The data was in line with a private report by surveyor Tinsa which said house prices fell at an annual rate of 5.5% in February, the same as in January.
The figures are thought to mask far greater declines in frothier parts of the Spanish property market, particularly in the Costas where as many as 600,000 Britons live. Many cashed in on property gains at home to buy in Spain, pushing up prices locally.
Spain saw one of the biggest booms in house prices, with values rising three-fold between 1995 and 2007, according to the Housing Ministry.
The average number of housing starts in Spain in the final stage of the boom years was 700,000 per year yet the population has only been rising by about 600,000 per year, according to ratings agency S&P. Britain's rate of building, in contrast peaked at 160,000 in 2007.
The credit crunch, sparked by bad mortgage lending, that began in 2007 and led to global recession has had a dramatic impact on Spain. The ending of the construction boom has sent the unemployment rate soaring to 20%.
Demand for property in areas dominated by Britons has also been further undermined by the falling value of the pound in the past 18 months, which has made life more expensive for expats and also made it more expensive for potential buyers.
Almost four million Brits living around the globe are planning a mass return to home shores, according to some estimates.
Last week a Reuters poll predicted Spanish house prices would fall by 8% this year and the slide would continue in 2011 before stabilising the year after.
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