Spanish Property Market – Too Many Properties!
For all homeowners and would be property tycoons the last 12 months has not been the best, with large interest rate increases and property prices falling – no wonder the rental market is on the up. But the problem in the UK is slightly different to the troubled property market in Spain. Spain to has had increases in interest rates and property prices have been falling but they have been falling because there is just too much property now – Spain has over built. This means there are literally thousands of brand new empty apartments and houses scattered all along the popular costas. This not only poses a problem for property owners and estate agents but also for other businesses such as furniture shops selling furniture packages in spain specifically for these types of new properties.
