Property prices have been in the spotlight since Spain’s real estate property bubble burst. Over the past five years, Spanish property prices dropped by 41.7%, according to a research study by Barcelona-based Universitat Pompeu Fabra (UPF), which was published at the end of April.
The study has analysed the sales figures of Tecnocasa (a real estate company) provided from the end of 2006, when the highest housing prices were reached, until the end of 2011. The UPF economist and coordinator of the study, José García-Montalvo, pointed out that the decline in housing prices would continue if the credit market does not recover………………………………………..Full Article: Source