Fitch agency specialists suggest that the recovery of the Spanish economy and the reduction of unemployment in the long term have a major impact on the price of the property, however, they never will be minimal, at least until the end of this year.
In his message, experts say that the real estate market, as before, there are too many provided for the sale of housing, which in turn illustrates the weak demand and falling purchasing power, weak loans because of high unemployment.
In accordance with the document prepared by experts Fitch, if we compare the data with the pre-crisis 2007 level of mortgage lending fell by 80%. However, the amount of new loans in March to purchase real estate increased by 2% in the comparison with the figures for last year. This was the first rise in four years. Fitch experts argue that the time to reach the lowest price mark housing costs will be reduced by 40% in comparison with high pre-crisis indicators.
In his message, they stress that the rate of housing in those European countries that have suffered the most, begin their recovery, however, it is a different pace. For example, in Ireland, real estate prices have reached their lowest point, and in Portugal, they have begun to stabilize, however, still remain weak. In its turn, in Italy and Greece, the market economy which had such a close relationship with the real estate sector, the cost of housing is still declining, however, notice some changes in the economic recovery.