Tenerife, the Canary and Balearics Islands property prices show signs of improvement
House prices in Spain are expected to continue to their decline for the coming three years, a new poll by Reuters has found.
According to the news provider, the fall is a result of an overhang from the burst property bubble and banks dump unwanted housing stock.
In a poll of 13 analysts, who widely believe that the market has been overvalued even after a 17 per cent fall since 2007, prices were forecast to fall by a further five per cent this year.
Next year, prices are expected to fall by a further three per cent, followed by a drop of a little over one per cent in 2013. Of course areas such as Tenerife in the Canary Isles and the Balearics are bucking this trend and showing signs of improvement
Source: IB Times
