Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › How much have Spanish property prices actually fallen? › Re: Re: How much have Spanish property prices actually fallen?
The principal point to remember, which many ignore when assessing if a property is worth a particular price is supply. If an area is littered with empty unfinished or even completed unsold developments then the value has to be very low. Asking prices are a different thing and rarely if ever reflect the true market value.
Spanish Costas are literally littered with the stuff. Best estimate 1.5 million unsold properties overall in Spain. Who in their right mind wants to buy anything in a market so over supplied?
Price become irrelevant because whatever you pay under these circumstances you will lose money.