Corporate foreign exchange news

Spanish property prices fall

Thursday, 16 December 2010 09:17:50 GMT

Published by Zeb Bham
Individuals considering foreign mortgages for property in Spain may be interested to hear that average house prices fell during the third quarter.
The latest figures from Spain's National Statistics Institute show that prices fell by 2.2 per cent in the three months to the end of September.
For the year to date, a 1.8 per cent reduction was recorded.
A poll conducted by Reuters found the majority of analysts believe house prices will not stabilise in Spain until 2012.
While falling house prices may not represent the strongest opportunity for investors, those considering foreign mortgages for a second home may be able to benefit.
Indeed, the country's ongoing debt problems have led to an abundance of cheaper properties that may offer good opportunities for those taking out overseas mortgages, director at Property-Abroad.com Les Calvert recently stated.
He believed interest in Spanish property will "continue to dominate" the searches for overseas homes.
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