20.12.2012 - Spanish house prices continue downward spiral
Investors seeking bargain Spanish real estate have never been as spoilt for choice as they are at the moment, with property prices falling yet again. The latest figures from Instituto Nacional de Estadistica revealed that prices plummeted by a massive 15 per cent in the penultimate quarter of 2012. This is up on the second quarter, where a fall of 14.4 per cent was noted. According to the Housing Price Index, this downward spiral is the result of a tight squeeze on credit, stalled demand and oversupply. Spain is also currently battling to come out of its second recession in three years, with unemployment increasing to over 25 per cent...............................................Full Article: Source
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