Spanish Housing Prices Continue Slide in Second Quarter | Waccabuc Real Estate

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 bailoutfunds



Read more: http://www.nasdaq.com/article/spanish-housing-prices-continue-slide-in-second-quarter-20130719-00065#ixzz2Zm18rHnJ

 

 

Spanish Housing Prices Continue Slide in Second Quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *