Blogging from the Murcia region of Spain until early June, when I return to
the Highlands of Scotland for a few months

'Fair and softly goes far' - Miguel de Cervantes

Wednesday, 15 October 2008

House prices fall 8.1 per cent on Med. coast

It seems that whilst the national average for house-prices has shown a decline of around 5.9 per cent, on the Meditteranean coast of Spain the decline is 8.1 per cent, although metropolitan areas, at 8.8 per cent, have fared even worse. These figures apply to the first nine months of 2008.

New house prices are reckoned to have declined by around 3.5 per cent in the last 12 months. it is predicted that the stock of unsold property at the year end will reach 920,000-930,000 and will take at least two years for the market to absorb.

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