The August TINSA index (Published September), indicated that prices are still falling.
The year on year rate of decline is -4.6%. (July was -4.3%).
Tinsa have guaged that prices have been falling year on year for more than two successive years.
Some commentators have suggested that the Spanish property market is approaching the bottom of the curve.
The number of buyers entering the market is down for the first half of 2010 to 2009.
The simple economic principle of supply and demand will continue to drive down prices. Whilst there is a dearth of buyers and an over supply of property, prices will continue to deflate.
The poor domestic unemployment data, wider economic gloom and poor performance in other housing markets will continue to take it's toll.
TINSA's figures are based on property valuations, and not on actual sales data.
Original Article
Tuesday, September 14, 2010
Subscribe to:
Posts (Atom)
