IMF Predict Further Property Price Falls in Spain

06 Aug 2011

James Daniel, IMF mission chief International Monetary Fund (IMF) has predicted that Spain's property market will experience further falls in housing values.

Commenting on the overall health of the Spanish economy, James Daniel, explained that although the country's government has taken positive steps to encourage a recovery, there are still hurdles to overcome.

Among them is the real estate sector, with James Daniel noting that there is still a large amount of stock to be sold in the Spanish market and predicted that "house prices probably also have further to fall".

However on a more positive note , he pointed out that the housing industry as a whole appears to have "returned to its historical average in terms of employment".

But Susana Suspenda marketing and operations manager for Spanish Hot Properties was more upbeat especially in regards to villas for sale in Spain which are very much on the increase. Susana explained that sales have been the best they have been since any point in 2008 but did concede that this was only what Spanish Hot Properties had been seeing and not the market as a whole.

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