Do you want a holiday home, or a permanent home in Spain? If you do then now is the time to start your search as there are a great number of properties for sale, approximately 1 million and the expectation is that prices will continue to drop this year.
Good news for those looking to buy, not so good news for those selling private homes or developers.
The Spanish National Institute of Statistics show that house prices are dropping. In the third quarter of 2010 residential properties fell 2.2 percent compared to figures from 2009. Also new property prices and re-sales are also on the decline with a 2.6 and 1.8 percent decrease year on year.
In view of the economic crisis it would appear that sellers now know that they have to be more realistic when putting a value on their properties. Many more owners are willing to enter into negotiations as the want a quick sale.
The prediction is that house prices in Spain may continue to fall for another two years, so investors locally and abroad are watching what is happening in Spain and some have already made some key investments already.
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