21.10.2008 - Spanish property prices could fall 50 pct
From Iii.co.uk: Real estate prices in Spain could fall as much as 50 percent over the next three years, stated realtor Grupo Inmo's financial director, Javier Ortiz. "If realtors don't sell their flats 25 or 30 percent cheaper now ... in two or three years they'll have older, unmarketable properties that are 17 percent more expensive (due to financial costs), so they'll be forced to sell 42 or 47 percent cheaper in real terms," Ortiz said..... Full Article: Source
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