Friday, Oct 30, 2009

Following on from my earlier post

Spanish Property Insight: + Home + News & Views + Intelligence + Solutions + About + Spanish Property Forums Property price declines “only half way there” says new report

Consensus in Spain seems very realistic "House and land prices are heading down, but since their peak in 2007 house prices have only fallen 15%, urban land by 21%, and building land outside cities by 25%. To return the market to balance house prices must fall another 22%, urban land 53%, and building land in other areas 62%, all in the next 2 to 3 years" Can't see Rightmove, Halifax, Nationwide or the RICS suggesting this for the UK market - Yet!!

Posted by magnaman @ 10:41 AM (1682 views)
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3 Comments

1. shipbuilder said...

The UK really is a country slitting its own throat. The best we get in the UK are a reluctant admission that prices will fall, but that it is utterly terrible news and terrible for the economy. It is incredible that such simple common sense as letting prices come back into balance comes across as so fresh and revelatory in a media outlet.

Friday, October 30, 2009 11:08AM Report Comment
 

2. tudorian said...

So Spanish house prices have only dropped by 15% from peak.

The enormous oversupply of housing in Spain is staggering.
I Visited Spain twice in 2008, 2 different regions. I was amazed by the number of houses and apartments with for sale boards outside.
Since my visits, unemployment is rampant and the highest in the eurozone, food costs have risen (both in relation to my devalued currency and in absolute terms) and the press has been full of stories of British nationals selling up and leaving .....
I think Spanish properties have more than 22% to fall

Yet Santander marches on from strength to strength ??

Friday, October 30, 2009 11:49AM Report Comment
 

3. gone-to-colombia said...

Garbage,
I have been watching Spanish prices for four years, they have been heading down dramatically.
My impression is that the falls have been around 50%.

Friday, October 30, 2009 03:49PM Report Comment
 

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