Spanish property market – On its knees or face down?

Shards of light are gradually lighting the gloom of Europe’s economic malaise as countries like the UK & France show real signs of market improvement. However, the answer to the question seems to be – face down in the mud & it’s started raining!

For most, property prices in Spain are felt to be about as low as they’re going to get. But the country’s economy is lagging far behind that seen in elsewhere in Europe and Spain is looking down & out for the long term. 2009 is almost old news now & everyone is looking to what can be gained from 2010.

However, rising unemployment, highly restrictive lending & a virtually non existent export industry leaves Spain facing even harder times ahead, according to some experts. The market is flooded with a mass of unwanted property & a population that can neither afford to buy it or get loans to be able to do so.

In selling a property in Spain, the price needs to be super competitive as potential investors hold their breath for further market value slips. For investors the advice is drive hard.