5 Apr, 2012 @ 17:37
1 min read

Negative equity on rise in Spain

A QUARTER of home owners in Spain will fall into negative equity this year.

It comes after predictions that Spanish house prices are set to fall even further – perhaps up to 14 per cent by the end of the year.

It follows an announcement by Economy Minister Luis de Guindos in February declaring that banks would be given two years to make 50 billion euros in additional savings.

In the week after the plan was announced, more than 10,000 homeowners on Spain’s largest property website, Idealista.com, lowered their asking prices.

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