In my part of Spain it starts with a J and ends in an R, ignoring the tenses.
On a serious note, we all know the main problems with the Spanish property market, over-building and dodgy banks (cajas mainly). And the elephant in the room, the Euro. Spain would be better off out of it.
Having simplified my analysis by a factor of a thousand, or more, I want to return to the million expats living happily in Spain, like myself.
I bought the house I currently live in some 17 years ago and paid a few million Pesetas for it. I still have the British obsession with house prices and can say that six years ago it had increased in value by some tenfold, since then it has halved in value from six years ago.
But it’s all gobbledegook and irrelevant. I’m happy living in Spain and the last thing I would want to do is sell my house in Spain.
I think Spanish property prices will stop falling this year, where I live they already have. But Spain is a massive country and I can’t speak for the rest of it.