Is the Spanish property market over the worst?

Discussion in 'Property Market News and Trends' started by totallyproperty, Oct 1, 2014.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    There is no doubt that the global financial crisis which resulted in a worldwide crash in 2008 has had a major impact on the Spanish economy and the Spanish real estate market. Indeed there are nearly 800,000 properties across Spain built between 2002 and 2011 which remain empty today. However, there are signs of improvement in the Spanish real estate market with price falls now slowing and the emergence of mortgage credit for the first time since 2008.

    As with many troubled economies, mortgage credit across Spain dried up after the global financial crisis and is only now, six years later, beginning to show signs of improvement. Are we really over the worst?
     
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