Wednesday, August 11, 2010

August 2010 TINSA

The July TINSA index (Published August), indicated that prices are still falling.

The year on year rate is -4.3%. (June was -4.0%)

Over the past few months some agencies have tried to talk up the figures, because the rate of decline has been falling. Some agency sponsored news churners imaginatively interpretted the reduction in the rate of decline as an upward trend.

With unemployment running at over 20%, and banks reducing the prices of properties, I think the downward trend of property prices is set to continue for some time.

This means that the general advice to the investment buyer is wait. If you are looking to move to Spain consider renting, unless of course your decision to purchase is based on a lifestyle decision.

TINSA's figures are based on property valuations, so the shouldn't be considered as factual.

Original Article

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