For those people who would like to know what the property market really is like in Spain, rather than the 'rose tinted' views that some of those with vested interests would like you to believe.
This is a extract (this week) from a newsletter for property owners in Spain. It quotes government figures, from real statistics:-
Sale of dwellings fell another 38%......
The National Institute of Statistics reveals that the sale of dwellings, that is those registered in the property registries, fell 38% in August, compared with the same month of the already bad last year. Only 27,038 dwellings changed hands, new dwellings were down 34.2%, re-sales were down 34.2.
No wonder that President Botin of Santander is peddling apartments on Wall Street and Minister Pepe Blanco (now under investigation accused of taking bribes) is trying his luck in Northern Europe!
……and construction down 24%
The Ministry of Housing is reporting a fall of 24% in the construction of new dwellings in the second quarter of this year, compared with same period of last year. Only 13,679 dwellings were initiated, that is 11.7% down from the previous quarter. Between April and June 31,077 dwellings were completed, 53.1% down on same period of last year.