Property prices in Spain should go down according The Economist

According a recent article of The Economist, housing prices in Spain should go down even further than in previous months. Th specialized magazine estimates that it should still falling by 16% in relation with average salaries in Spain.

Although The Economist considers that housing prices in our country have fallen by 31.3% since the top moment before the starting of the economic recession (first quarter of 2008), it estimates that it is still traversing downward. But it is not the only country with an overpriced property market. In fact, in New Zealand the situation is even more significant as properties are overvalued by 114% compared to rent prices, and 59% in relation to wages.