Spain: The worst is over says Ministry of Housing

Despite price falls of 8% this year, the market is beginning to stabilize and now is the time to buy according to Spain’s Ministry of Housing.

"Talk of a slump (in prices) is no longer fitting” said an official from the Housing Ministry during a press conference for the Ministry’s latest quarterly housing market figures. National average prices have fallen 8% over 12 months although the pace of the price falls has eased in the past few months.

Not everyone agrees that the worst is over. A Reuters housing poll of Spanish and foreign-based economists found that on average prices were expected to fall 32 percent from their 2007 peak. So far they have fallen just 7% in nominal terms, according to the Ministry of Housing’s figures.

Comments

Post a Comment

Popular posts from this blog

In Tempo defies the crisis

Image
The skyscrapers keep getting higher in Benidorm and three years from now, the highest residential block in Europe will be finished. After one year of moving earth and laying foundations, to a depth of 17 metres, the In Tempo building now boasts signs of life and the first three floors are visible. Last week, a mini celebration took place to commemorate the first anniversary of work starting on the site. Also worth celebrating is the fact that nearly 50% of the project is sold already, and that in the current economic crisis. The dimensions of the skyscraper are impressive, with it due to reach 200 metres in height, distributed over 55 floors and two towers that will be joined by a central piece in where the most expensive properties will be located (approx 6000 Euros per square metre). Such properties will cost 2.4 million euros. The current highest residencial block in Benidorm is Torre Lugano which actually rises 220 metres above sea level as it is located on the side of the Sier...
Read more

Finca Medina, Ontinyent

Image
As anyone who follows our website knows, we don't always limit ourselves to our local, coastal locations when listing properties. So when a previous client of ours asked if we could help find a new owner for their country home in Ontinyent, we decided what better way to spend a Friday afternoon than to have a drive out into the Valencian countryside to check it out. Situated approximately 1 hour from both Alicante and Valencia, the house is located halfway between Ontinyent and the village of Fontanars Dels Alforins, where you will find plenty of bodegas offering good-quality locally produced wines. The drive to the house is stunning, passing the lake of El Pou Clar, literally translated as the clear well, and passing fields of numerous fruit trees and vineyards. Access to the house is good although the last 500 metres are along a dirt track. The house has absolute privacy and tranquillity although there are one or two neighbours nearby and the local "Casa ...
Read more

Spain's Unemployment Numbers Continue to Improve

Unemployment is now at the lowest level since 2008, and that is no doubt why we have been working with as many Spanish clients in the first six months of this year, helping them to find the right property, compared with the whole of 2016. For many Spanish buyers, the employment situation has been the biggest concern throughout the crises,so it is comforting for all to see the unemployment level reducing though there is without doubt still much room for improvement. More on the unemployment numbers here:-  http://www.marketwatch.com/story/spains-unemployment-rate-drops-to-1722-2017-07-27 And be sure to check out some of our latest property listing here:-  http://ultimatehomes-spain.com
Read more