The International Monetary Fund predicts that property prices in Spain reach the bottom when they fall another 10%. If rates are the same as in the first quarter (i.e. -1.6%), stabilization may be achieved through a year and a half, writes ee24.com citing noticia.ru.
Inflated property prices in some European countries are called IMF as dangerous for the stability of the world economy. In addition to Spain, experts are concerned about unreasonably high prices for real estate in France and Belgium.
When calculating the "correct" price IMF considers several factors, including not only the ratio of housing prices and incomes, but also the ratio of housing prices and renting. In addition experts advise to take mortgages into account, especially the number of granted loans and sizes of debts.