Not only the real estate market experts believe that property prices will continue dropping, in spite of the adjustment of 30% experienced since the beginning of the crisis. Spaniards believe it as well. According to the last Consumer Trust Indicator (CTI) published in December by the Superior Center of Scientific Studies, more than half of the interviewees (52,7%) believe that property prices will continue falling for the next 12 months. Another 37,1% believes that prices will remain unchanged. Only 4,9% foresee an increase in prices.
These percentages, compared to the figures of November, indicate that more people believe that property prices will continue to fall. (…)
Currently, those anticipating more discounts on property prices based their answers on a lesser demand: 40,9% base their response on this factor.
31,4% establish that the descent of purchasing power will be the cause for the fall of property prices and 27,8% declare that the excessive offer will affect prices.
With this scenario, the answer to the question “are you planning to purchase a home in 2013?” is quite obvious. Up to 97,3% rules out this option, while only 2,1% declares an intention to buy a property (…).
Source: El Mundo