The fall in House Prices appears to be Slowing according to Spains Ministry of Housing

House sales plummet to record low

The number of houses sold during the first half of 2009 has fallen to a record low, according to figures published by Spain’s Ministry of Housing.


A total of 217,589 houses were sold in Spain during the first six months of this year, the worst figure since records began in 2004. The figure also represents a 31 per cent drop in comparison with the same period in 2008, when 316,096 were sold.

However, the fall in house prices appears to be slowing: prices in August fell by 8.9 per cent in comparison with the same month last year. This is the smallest fall in house prices in the last eight months.

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