Brick makers of Bailen feel the pain

The downturn in the property market is having a brutal impact on Spain’s brick makers, according to a recent article in the Spanish daily ‘El Pais’.

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Spanish property market shrinks 37% in November

Measured by activity, or transactions, the Spanish residential property market shrank 37% in November compared to the same month last year, according to the latest figures from Spain’s National Institute of Statistics (INE).

Official Spanish Property Price Index ends 2008 down 3.2%

Average Spanish property prices fell by 3.2% in 2008, according to the official house price index from the Ministry of Housing. Real prices, after adjusting for inflation, fell by 4.6%.