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Spanish property prices 'stabilise'

20th December 2010 | back to article listings BACK    print this article PRINT

Property prices in Spain are beginning to stabilise now the market has bottomed out, the Overseas Property Professional (OPP) reports.

The stability has been attributed to declining fluctuation among approved and started properties, according to the Property Industry Report.

The call comes as figures show that as the end of the year approaches, approved properties stand at 117,000 and started at 160,000.

The report was published by the Instituto de Practica Empresarial (IPE).

Home values are expected to remain stable on the whole, but in some areas falling supply could trigger price rises, according to the IPE.

Jose Antonio Perez, director of research at IPE, told the OPP: "Now is the time to start working on new plans of action and getting projects and developments under way because otherwise we could find ourselves faced with another collapse in demand in 2012-13 and the subsequent price falls."

Copyright Press Association 2010

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