Government to boost Spanish housing market
People who are planning on buying property in Spain
may be set to benefit from a series of government reforms.
The economy ministry has confirmed that it will implement a number of special measures in order to improve conditions in the housing market, AFP reports.
It is hoped that an injection of €20 million next year and in 2010 will help people get mortgages more easily.
The government has said it wants these measures to help kick-start economic growth of about three percent within the next two years.
Speaking in a statement, the economy ministry commented: "[The government] believes that the country will resolve this crisis and emerge from it in a stronger position."
The department added that the ruling party wants to send a "message of confidence" to people in Spain, and show that it is proactively aiming to tackle the current economic downturn.
This comes after Homes Overseas said house prices in some parts of the country are dropping as a result of the credit crunch.
According to the publication, overseas property buyers could take advantage of the current state of the market by buying a residence at a knock-down price.