House prices will fall over the next year say 80pc of Spaniards

Property might already be cheaper than at any time in recent years, but a big majority of Spaniards believe prices will fall over the next year, reports the Spanish financial paper Cinco Dias.

According to a survey by Basico Homes, a developer of budget homes, 53pc of Spaniards expect house prices to fall a little over the next year, whilst 30pc expect big price falls. 14pc expect prices to stay the same or increase.

When asked about price changes in recent months, 60pc said they thought house prices were down a little, whilst 30pc reported no change. 7pc thought that prices had gone up.

Turning to housing market figures, it is reassuring to see that ordinary Spaniards have not been duped by the Panglossian official figures. 37pc found them dodgy in some way, whilst 47pc weren’t sure. Only 3pc said they are completely trustworthy.

The survey also asked Spaniards why the want to own their own homes.

  • 31pc said so they can decorate to their own taste
  • 17pc say as an investment
  • 14pc say to leave parental home and set up independently
  • 14pc to avoid ‘wasting’ money on rent

Of those surveyed, 33pc have no plans to buy now, and 20pc never plan to buy, but 30pc plan to buy a home in the next year.

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.