Spanish housing review by RICS
The housing market downturn continued during 2009. There was some evidence that the decline might be bottoming out towards the end of the year, though the housing market and the wider economy still face substantial problems. So, it is by no means certain that the end of the housing market downturn has actually been reached.
The adverse market conditions have been feeding into official price indices. There is uncertainty and debate about the extent of the price falls that have occurred, especially in new build. As a result, it is worth spending a little more time than usual in the other country chapters to go through the different indices.
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