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Spanish property market shows improving health

Spanish property market shows improving health

The Spanish property market has seen poor days over the last year or so, but thing may be about to change as Spain’s Housing minister expressed optimism last week.

Property prices in Spain, recently seen plummeting, seem to be stabilising, according to the minister Beatriz Corredor.

The over supply and over valuing in recent years brought property prices in Spain to a point of correction which then saw a spiral dive once the worldwide economic decline took hold.

But despite the bad news, recent figures show that although down nearly 20% on the same time last year, figures for July 2009 reveal a rise of nearly 5% in property sales in Spain.

Despite downturn indicators reflected by the real estate construction industry, there are investors seeking property to buy in Spain, and sales are gradually rising once more.

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Published: 22-Sep-09

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