Spanish property prices continue on there downward journey, with no signs of slowing up. The downward trajectory is a sustained year on year trend that shows no signs of abaiting. The reasons for the continued decline are much the same as they were this time last year.
- A glut of new properties still unsold.
- General malaise across other property market's
- Property scandals not resolved.
- Unemployment still very high (20+%)
- Instability in the Eurozone.
- Poor outlook for Spain
Prices are failing, so it's therefore not a good time to buy, since you can purchase in the future for less money. This in itself puts further downward pressure on the property market.
For prospective buyers looking to invest in Spain, unless you find a great bargain, sit on your money and wait. Rent instead.
Tinsa report
