Spain Home Values Fell by EU360 Billion in 2 Years, BBVA Says

The total value of homes in Spain fell by around 360 billion euros ($442 billion) from 2008 to 2010, according to a study by the BBVA Foundation and the Valencia Institute of Economic Investigations, or IVIE.

The total value of existing homes in Spain reached 5.6 trillion euros in 2008 and declined 6.8 percent to 4.9 trillion euros over the next two years as prices dropped 9.2 percent, according to an e-mailed report from IVIE.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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