Real property appraiser Sociedad de Tasación (ST) sees no clear signs of recovery in the housing market in Spain and gives a negative outlook. Although the fall in prices has slowed, they continue to decline and soon will reach the bottom, reports ee24.com citing spanishpropertyinsight.com.
For the year to June 2014 a property in Spain fell by 2.3%, while in the previous corresponding period the market has fallen by 15% immediately. ST concludes that prices are gradually stabilizing. A strong territorial disparities were mentioned: housing in Seville increased in price by 5.7%, and in Malaga by 2%, while in Madrid it became cheaper by 2.9%, in Barcelona by 4.2%, in Valencia by 6.6% and in La Coruna by 12.7%.
As in several other reports (of economists, analysts, real estate agents), the publication of ST says that the fall of the market will be completed soon, and in Madrid, Barcelona, Ibiza there are already signs of recovery. However, experts say is hard to predict the turning point for the Spanish housing market nationwide.