Boost for those moving abroad as Spanish prices seen ‘bottoming out’
02.10.2009
Spanish property prices may be starting to bottom out, it has been suggested, something that could ensure those moving abroad to the country are not stuck in negative equity.
Property portal Kyero.com commented that figures from the National Institute of Statistics show an 11.2 per cent drop in prices in the second quarter of this year, compared with a fall of 12.5 per cent in the first quarter.
Areas that are popular with overseas buyers saw smaller falls than elsewhere, the website also noted.
Kyero said its own figures for asking prices in the third quarter show a two per cent dip from the same period in 2008, whereas in the second quarter there was a year-on-year rise of 4.5 per cent.
It said this was proof that sale and asking price are largely unrelated.
Spain offers "massive choice" as well as "some very good pricing" for those keen to buy there, chief executive of property firm Assetz told the Independent last week.
Source: Halifax International
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