House prices in Spain could fall by 12 per cent, says S&P | SpanishNews.es: "Spanish property market crash has not yet hit bottom. The Standard & Poor’s rating agency believes that the country is still “a long way to go,” and that prices could still fall another 12%.
The authors believe that “the massive stock of supply” of housing (around a million homes, according to some estimates) should have caused a greater fall in prices. In any case, since the creation of new homes has fallen to about 300,000 a year, “will take several years to absorb the excess.”
Housing prices in Spain could collapse 12 per cent according to a report published by Standard and Poor’s on Tuesday."
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