The fall in property prices in Spain will continue in 2014

Experts predict a further decline in property prices in Spain in the first half of 2014, according to themovechannel.com . The fall in prices is due to the difficult economic situation in the country has not yet recovered from the crisis. 2013 was quite positive for the Spanish property market in terms of foreign demand, which grew by 30%. According to Lucas Fox Agency, in 2013 the Spanish property market has attracted a large number of foreign buyers with affordable prices - especially for luxury housing in resort areas such as the Costa del Sol and Costa Blanca. Trying to attract the foreign demand for real estate market, the Spanish government to follow the example of Portugal, offering non-European citizens the right to a residence permit in exchange for investments of at least € 500 000 in real estate in Spain. According to official data of the central bank of Spain, during the first ten months of 2013, foreign investors have invested about 45 million euros in the Spanish economy. In the new year, it is expected that sales will only increase. However, significantly increasing external demand, the Spanish government is unable to cope with the lack of domestic market demand, and therefore a fall in prices is expected to continue throughout the first half of 2014. HomesOverseas.ru