The latest forecast by the ‘banco malo’ suggests that house prices could begin to rise as from 2017 and then at a rate of around 3% for the next ten years. In the meantime, there will be two more years of decline followed by two years of stagnation.
Slump continues
Spanish house prices have slumped by 26.3% in the period up to July this year and mortgage lending is down by 33.2% as the credit crunch continues. The property market has been the backbone of Spanish growth for the past decade but is now on the verge of recession according to many. However, many analysts believe that the market is …