Home prices in Spain fell 4.6 percent in August from the same month a year earlier with property values on the Mediterranean coast taking the biggest hit as the country's real estate crisis wears on, a leading real estate appraisal company said.

Price declines on the Med coast almost doubled the national average, falling 8.3 percent on the back of a 6.2 percent in July.

After a decade-long boom in real estate and construction the Spanish housing market began to slump late last year, with declines accelerating during the first half of 2008. In the second quarter of this year, home sales plunged 25.9 percent from the same period a year earlier.