Reply To: Spanish Property Crash hits Britons


I think there is something very strange here.

There is no-way values of properties can be down by nearly 75%. That would mean builders were selling property for less than the building material costs and that just isn´t likely or adviseable.

However, there was a report out last week which claimed SALES were down by 74%

I suspect that the intrepid reporter at the Telegraph must have got her VALUES and SALES figures confused. It seems to me that her figure of “nearly 75% reduction in values” is a little close to close to “nearly 74% reduction in sales” as the largest 7 developers have confirmed last week.

Other than this I cannot possibly account for such a ridiculous statement, though it would be good if Mark Could throw some light on the subject.