Apartment prices have already fallen by 7.22%, according to the current Precimetro, the price index of the real estate portal Facilisimo.com, which puts the average price per square meter at the same level as in 2005 at 2,288 euros.

Although the real discounts can reach 15% or even 20%, especially for second-hand houses. For an average house of 90 square meters, which was around 300,000 euros at the beginning of 2008, it can be had for 260,000 euros today. And according to forecasts, they will continue to fall as 2009 progresses.

This drop in prices is due to the bursting of the real estate bubble and the drop in sales. In the last three years, construction activity has far exceeded demand: according to experts, an average of 900,000 apartments were put on the market, a demand of 300,000 was offset by an oversupply of more than a million and a half new houses without buyers and almost three million vacant second-hand apartments. In addition, there is an overvaluation of houses driven by real estate speculation.

Another derivative of the real estate bubble bursting is the second home market. In fact, according to the Price Meter mentioned above, the Autonomous Communities where prices have fallen the most were precisely those with the most holiday homes, such as the Balearic Islands (with a fall of 13.78%), Murcia (-9.45%) or Valencia (-8.45%). Here the banks
They find that they want to enter the market with a lot of embargo because what they care about is cash flow. So you have to pay attention to these movements.

company management