Reply To: Spanish property market 2008: soft landing or train wreck?

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Anonymous
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@ralita wrote:

@Senor Nick wrote:
units are built to very good standards but if you buy at 220k thats 2000 euros PSM so how much further are those units going to fall,

There is one way to get the real price.

Take the local anual salary and multiply by at most 5. I guess 25000 Euro is a good salary so the price of those properties should be at most 125000 Euros.

Even if you add the location premiums (say 50%), the price should not exceed 180K Euros.
And this in a normal market, where mortgages are obtained easily and there is no selling panic.

In the current situation, I would not be suprised if the bottom price would be around 100K Euros in a couple of year time.

Well your entitled to your opinion but not one I share because thats based on incomes not as people’s second or third homes who dont need to sell and the cost of constructing a new apartment etc etc