Spanish land prices fall again in Q1

The price of land has come down around 40pc since the peak, as illustrated by the graph above.

More than anything it was the speculative cost of land that drove up Spanish property prices in the boom. Land speculators, often in cahoots with corrupt politicians, made the most money during the boom, whilst adding the least amount of value.

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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.