House prices should drop more, according to Blanco

October 27, 2010 at 3:38 pm Leave a comment

José Blanco, the Ministry of Development, who recently incorporated the Department of Housing under his supervision, has stated that the housing prices needs to drop more. His statements are in contradiction to what the PM said in the US last month. According to Zapatero, house prices have reached bottom in Spain and, in some regions, they have begun to increase.

house prices should fall moreBlanco stated in an interview that the price of housing should experience an even greater adjustment after three years of crisis  to ensure that they follow the evolution Spanish salaries. His opinion somewhat matches the experts’ opinion who think that prices need to drop more in order for the stock of houses is absorbed.

House sales will increase these months because the government is eliminating the tax deduction for people with an annual income under 24 100 Euros.

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Entry filed under: Housing, News, Real estate. Tags: , , , , , , , , .

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