Spain – Done & dusted?

There is a mountain of data about how property prices in Spain have performed month on month, year on year, one type of property compared to the other etc. Whilst searching from one mountain to another, the chasm between should not be ignored.

Official data released from the National Statistics Institute shows what we pretty much already know; that property sales in Spain are decreasing. But the data generally shows price slides beginning to slow down, giving the hope that the market in Spain is pretty much as low as it’s going to get.

On average price falls in the country are seen as only partially done at around 25% & further drops may be on the way.

There are similarities between Spain & Dubai, with each having a massive over supply of property, a large expat community, & restrictive bank lending practises. Beware, prices in Dubai have plummeted 50% in this crisis.

Coastal properties saw a summer halt in price falls before resuming a healthy slide in September. For the patient investor, time is likely to yield some attractive proposals.