Spanish property price slump slowing, it is claimed

[Nicholas Wallwork]

The decline in Spanish property prices is slowing, according to the latest published index but*banks who own a massive amount of repossessed real estate could depress values in 2010 when they*dump them on the market.

The latest Tinsa property price index for November shows that average prices fell by 6.6% over*the last 12 months, down from 7.4% last month. But many in the industry point out that the index*does not reflect what is actually happening on the ground as it is based on valuations, not actual*transaction prices.

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[rowlandsbb]

I suspect that the banks will keep the supply under control as they did in the last recession
There was not much movement in prices in the real market in 2009, those who had to sell had to take what they could get , so buyers had excellent deals
But if sellers where bring the money back to UK , then more often than not the exchange rate provided some compensation for the low price they had to accept

Same will apply in 2010, sell only if you have to but watch the exchange rate after our election!

Banks like CAM are now giving 80% LTV mortgages to non residents on their discounted properties and this is an improvement
And there is the odd new development being built such as Thabernax Country Club near Tabernas Almaeria [ stopped due to credit crisis but now re started with mortages to buyers from Santander]

Whatever the stats may say for loife style buyers it is a ' buyers market' and there is quite a lot of good quality property out there at very good prices, if 2010 is your year for a life style change