DEBATE is raging as to whether the new year has stabilised the Spanish property market.
A new report from Fitch rating agency suggested property prices will stay at 40% lower than the pre-crisis peak, with the market bottoming out.
Vozpopuli, however, said that to expect property prices to recover is to live ‘far from reality’ and believes the sector will never return to its former glory.
It reasoned that with an aging population and almost five million houses for sale, under construction or empty, Spain must be realistic.
Meanwhile, Spanish bank BBVA predicts economic growth of 2.7% this year due to falling oil prices, and foresees demand creating one million new jobs in Spain.