Are Property Prices in Spain Too High?

Posted on 14 February 2011

Date: 25/04/2007
Are Property Prices in Spain Too High?

London 25 April 2007

Share prices in Spanish property developers collapsed yesterday when Astroc, a leading Spanish property developer, revealed its audited accounts showed last years profits came from assets sales to its chairman. Worries about a Spanish over supply of 200,000 new properties coming on to the market and therefore falling property values, plus corruption scandals, is causing holiday home buyers to seek other countries. Turkey is high on buyer’s lists, with property prices in Turkey about third of those in Spain, and the average property size 20%-30% larger.

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