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- Liva & Laia : 15th November
Spanish property prices dropped even further over the second quarter of the year, as a result of tax exemptions for home purchases being abolished at the end of 2010, according to data released earlier today by the Ministry for public works.
Spain's housing price index between April and June fell 5.1% from the same period last year and 1.4% on the first quarter of 2011, the statement read.
Prices have been falling by more than 3% on the year since the first quarter of 2009. After a 10-year boom, when prices tripled and house building soared, Spain is currently struggling with a massive glut of unsold properties which a number analysts estimate to reach as many as one million.
