| The past four years have been an agonising time in the Spanish property market. In the aftermath of the massive overdevelopment that went on in the first half of the decade, there are now around 700,000 empty, newly-built homes on the market - 400,000 of them in coastal areas.
Since economic crisis hit Spain and the market imploded, prices have fallen on average by around 20%, though in some heavily overbuilt areas they are down by more than 40%..............................................Full Article: Source
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