Thank you for posting that helpful link Claire. I do think that realism in the Spanish property market has yet to arrive and these figures tend to confirm that view. Vendors still believe they can recover their expenditure. Not so surprising since no one wants to lose money. However that situation will change as the recession bites hard and vendors get increasingly desperate to sell. Lat month almost half a million more unemployed claimed the dole in Spain increasing the total to 14% of the working population.
I don’t want to be seen like a vulture waiting for the carcase but when demand falls off a cliff who wants to invest when the market has a long way to fall? Good business is about timing, knowing when to get in and when to get out. I am keeping my powder dry.