Tuesday, April 20, 2010
House prices fell 6.2% in the fourth quarter and 7% in the third quarter, according to data from the Spanish Housing Ministry. Housing data can be erratic in Spain, but generally, there appear signs that price pressure is easing somewhat from the worst of the crisis that began when the market began to crumble in the second half of 2008.
A year ago, those house prices were down 9.7%. Meanwhile, the National Statistic Office last week reported a 7.2% increase in February home sales against the prior month and 18.7% on an annual basis. It was the second straight month of gains after an increase of 2.1% in January.
The government's medium-term plan is to decrease the deficit to 3% by 2013, in line with its commitments under the European Union's Stability and Growth Pact. In order to achieve this, it plans a fiscal adjustment of nearly 10% of GDP.
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by World House Info @ 12:19 AM
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