Spanish Land Prices Start To Fall

June 21, 2008

Urban land prices are starting to fall in Spain as developers who are short of cash are forced to sell in order to make money. The price of land in Spain fell by 2.7 per cent to €277 per square metre in the last quarter of 2007, according to figures from the ministry of housing. This was a significant drop compared to the same quarter of the previous year. However, the Euro Residentes website reckons the Ministry of Housing in Spain has ruled out a sharp fall in property prices and has said the housing sector will recover in 2010, when the demand and supply of housing will readjust itself. For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.