Spanish land prices fell 7.5pc in Q3
Land prices in Spain fell by 7.5% in the third quarter compared to the same period last year, according to the latest figures published by the Ministry of Housing. On a quarterly basis prices fell 4% to 238 Euros/m2, having risen by 3.7% in the second quarter.
Property prices must fall another 20pc says leading Spanish bank
Spanish property prices were 30% over-valued, but have only fallen 10% so far. Ergo they have to fall another 20% before the correction is over. That’s pretty much the conclusion of the latest report on the housing market by BBVA, Spain’s second largest bank.
Market relapse in October, sales down 24pc
After several months of a fragile recovery the Spanish housing market relapsed in October, falling 24% compared to the same month last year, according to the latest figures from the National Institute of Statistics (INE).
Spanish property prices haven’t fallen enough says LSE professor
House prices in Spain haven’t yet fallen far enough, says Spaniard Luis Garicano, Professor of Economics and Strategy at the London School of Economics (LSE), in an interview with the daily paper Público. As a result, it’s too early to say the property bubble is over.
Tinsa property price index reaffirms improving trend
The Tinsa property price index for November shows that average prices fell by 6.6% over the last 12 months, down from 7.4% last month. That’s the smallest fall in a year.
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