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The latest business, economic,property, stock market and financial news from Spain. Keep up to date with what is happening with the Spanish economy, stock market, the economic crisis, the euro zone debt sovereign debt crisis and the Spanish property market.

Spanish House Prices Continue to Fall
21 July 2013 @ 19:06

House Prices in Spain are continuing to fall, recent government figures have shown.  It's hardly surprising when Spain has 27% unemployment and an economy that is continuing to deteriorate.  From the Wall Street Journal:

MADRID--Spanish home prices continued to weaken in the second quarter, suggesting the country is still a long way from recovering from a property market crash that forced the country to seek a bailout for its banks.

Prices declined 7.6% year-on-year and 2.4% from the first quarter, a report prepared by the Public Works ministry showed Friday. The average price per square meter was 1,481.7 euros ($1,942.36), down 29.5% from the first quarter of 2008.

Spain is enduring a protracted recession that was precipitated by the collapse of a housing and credit bubble five years ago. Late last year, the country's banks transferred billions in bad real estate loans to a government-backed "bad bank" established with the help of euro zone bailout funds.

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