Spot the difference – Spain’s official figures

Property prices in Spain paint a different picture depending upon which side of the fence you stand, as Spain’s Ministry of Housing & the IMF clash over what the reality is.

You can’t blame the ministry for promoting market stability & talking up the idea of a rosy market recovery, but the recorded official fall in property value of just 8% over the last 12 months is too rich for some to swallow.

A spokesman from AFI, a financial analysis house, told Reuters that the figure was surprising as it had been expected to be in double figures, & certainly so before any talk of a market recovery could be entertained. The IMF would seem to agree & expect further falls to come.

The reality for many experts is that prices have fallen by nearer 20% than 8%, & with a flooded over supply of property, high unemployment & a growing mood that the government is ineffective, prices may fall further.

Selling a property in Spain now is all about pricing competitively, & recent figures will show an ever increasing market of interested investors.