It has been reported in the heavyweight financial papers that most experts say there is room for further falls in house prices in Spain and it could take a further two years to complete the downward spiral.
Banks, which have acquired billions of euros worth of residential and commercial stock are doing their bit. They have unloaded hundreds of homes by offering discounts of up to 40 per cent.
On Spain’s overbuilt Mediterranean coast, heavy discounting has started to revive interest among Britons and other northern Europeans looking for holiday homes or second residences.
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