API estimates that property prices have fallen by up to 40% due to slump in sales
According to Santiago Baena, the chairman of the association Agentes de la Propiedad Inmobiliaria de Espa\u00f1a (API), the price of property in Spain has fallen by 40%. This figure is far from the official figure of -3.2% provided by the government. Furthermore, the fall in sales has led to the closure of 50,000 Estate Agent\u2019s in Spain.<\/p>\n
During the opening of the fifth national conference of API which is taking place in Logro\u00f1o this week under the slogan \u2018The Key to the Future\u2019 Baena said that prices had adjusted enormously and that now was the \u2018moment for buyers not for sellers\u2019.
Cristina Thomas, the general secretary for the Ministry of Housing, also spoke at the conference. She said that property sales had fallen by 32% in 2008 but that she was confident that these figures would start to get better over the next few months. <\/p>\n
She said that the government was trying to ease the effects of the slump in property sales by combining the interests of constructions companies and property promotors with thousands of citizens who aspired to own their own homes through the State Housing and Rehabilitation Plan 2009-2012. <\/p>\n
She also asked the financial sector to help the Ministry of Housing put their plan into actions. So far no agreement between the government and the banks has been reached over the availability of finance for those wishing to take out mortgages under the government\u2019s proposed Housing Plan.<\/p>\n","protected":false},"excerpt":{"rendered":"
API estimates that property prices have fallen by up to 40% due to slump in salesAccording to Santiago Baena, the chairman of the association Agentes de la Propiedad Inmobiliaria de Espa\u00f1a (API), the price of property in Spain has fallen by 40%. This figure is far from the official figure of -3.2% provided by the government. Furthermore, the fall in sales has led to the closure of 50,000 Estate Agent\u2019s in Spain. During the opening of the fifth national conference of API which is taking place in Logro\u00f1o this week under the slogan \u2018The Key to the Future\u2019 Baena said <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-781","post","type-post","status-publish","format-standard","hentry","category-sin-categoria"],"yoast_head":"\n