Business and Finance

Archive for the ‘housing market’ Category

The year 2010 ended with a clear change of trend in the real estate market trends. In the last quarter saw a slowdown in home sales that broke the positive developments that had lived in the early months. Even the abolition of tax relief for housing, which entered into force in January, has had the salutary work expected in the market. About what will happen next year there are many unknowns and many answers.

The economic situation is key to knowing how to evolve the housing market and the statement of the Prime Minister, José Luis Rodriguez Zapata, who estimated five years to rectify the situation that does not help. Because it is the lack of funding or rather, the difficulty for prospective homebuyers to obtain the financing needed to purchase a home, what will prevent the revival of market activity?

Although housing prices are continuing a year of declines, sales of apartments close the year with a negative balance. In 2010, the annual decline of housing prices has been 3.5%, according to the latest figures from National Statistics Institute (INE). New housing is the most down to 3.7% while that used stood at 3.2%. The appraiser Tins in its latest housing market index (IMIE) amounts to a 3.9% fall in the price of housing in 2010. The decrease was more pronounced in the Mediterranean coast with 6.8%, while in large cities was 5%.