Spanish Real Estate Crisis | Values to fall by 50% in 3 years
There was an interesting article in NuWireInvestor.com
Quote:
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Spain's property market continues ot tumble as a surplus of homes and condos depresses prices. The decline may continue for years to come. For more information, read this article from PropertyWire.Property prices in Spain could fall as much as 50 percent over the next three years
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The full article:
Spanish property values may be halved in next 3 years.
Obviously not good news for North Costa Blanca vendors who have been trying to sell for months already but the situation is not quite a bad as that.
The article really refers to new properties and not resales.
There are actually not so many unsold new buildings in this area and the offer is mainly resale properties.
A curious fact as well is that properties here have been falling since 2004 i.e. when the boom that created the bubble started to get underway.
News items like this are not very encouraging for owners who are desperate to sell. I am actually preparing an article now offering advice in such situations and intend to post it on this forum.
If you are interested in knowing why and how the bubble occured:
Spanish Real Estate Crisis | A Crash or Soft landing?
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Spanish Real Estate Crisis | Values to fall to half in 3 years 
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