The Spanish property market shrank year-on-year by 40% in February, according to the latest figures from the National Institute of Statistics (INE). Excluding social housing, there were 30,822 property transactions in February, compared to 51,343 a year before.
Spanish property prices fell at their fastest rate since records began in the first quarter, government data showed on Wednesday, while analysts forecast more big falls in property values. House prices in Spain fell 6.8 percent in the March quarter, compared with the same period in 2008. On a quarter-on-quarter basis prices declined by 3 [...]
Real estate brokerage firms have truly been decimated by the collapse in the construction and real estate buying sectors. Only 25,000 real estate companies have survived the crisis of the 80,000 that were registered in the summer of 2006 when the construction boom was in full swing, amounting to a [...]
