27.02.2012 - More house price drops in Spain – official

Spanish Government officials claim new homes will continue to become less expensive this year and almost 65% of the excess of new housing is located in coastal areas. Ministers are putting new pressure on Spanish banks to offload their under-performing property assets and clean-up their books as part of the country’s fiscal recovery. A new law demands that banks write down their real estate by up to 80% of the book value...............................................Full Article: Source

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