Clouded property prices across Spain
Spanish property experts disagree on the current direction of property prices throughout the country’s residential estate markets.
Official figures supplied by the National Institute of Statistics record a price fall of more than 11 per cent across Spanish properties during 2011 which would seem to suggest that property prices have yet to hit bottom.
Whereas other organisations suggest that the decline in property prices has dramatically slowed and eagerly awaits the release of first quarter figures for 2012 which is expected to indicate a period of stability.
Most experienced sources within the industry agree that since the global credit crisis began in 2007 Spanish property prices, on the whole have depreciated by more than 40 per cent.
Some regions where oversupply is a problem have seen prices plummet by more than 50 per cent during this period whereas other districts where supply is tight house and apartment prices have not fallen so far.