After years of rampant growth and short-term speculation, it appears the authorities are going to take measures to discourage this continued growth and are looking into ways to slow things down
Spain’s property market is a mess. Even the most hardened estate agent would have trouble persuading anyone that Spain was a good investment at the moment. (If there were any left in Spain.) And for once, every one agrees. These are some recent headlines from around the world regarding the state of the Spanish property investment market.
The slowing property market in Australia has meant that some real estate agents are finally having to do some work to earn their generous commissions.
The agent’s main problem is of course over-optimistic vendor’s expectations. In the good days of the boom an overpriced house just mean that it might take a month to sell instead of a week. Now with the average number of days to sell at 78 a realistic selling price is the starting point not the ending point.
The ten-year Spanish property boom finally came to an end over 2007, according to figures from Spain’s department of housing (MiV). The 4.8% rise in prices throughout last year may seem like a normal figure compared to other non-booming property markets, but represents a sharp deceleration compared to the powerful rises – of up to 20% – experienced during the boom years.
More on Post-Boom Spanish Real Estate: A Return to Consumer’s Interests
