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Spanish Business News

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.

Property sales plunge 15.4% and Mortgage approvals down 41.7% in August 2013
29 October 2013 @ 13:55

According to INE, the National Statistics Institute, home sales fell by a massive 15.4% in August compared to August of the previous year.  Even more staggering is the fall of 41.7% in mortgage approvals in August compared to the already low figure for August 2012.

So despite the propaganda being spouted by the Spanish government and estate agents, it doesn't look like there is going to be any housing market recovery any time soon.  I still think prices have got a long way to fall before people will be tempted to buy in Spain.  There still seems to be a lot of over priced properties around, with vendors asking unrealistic prices.


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