Spanish Property

Spanish PropertyAccording to a report elaborated by UBS CIO Wealth Management, property prices in Spain are to continue dropping until they reach levels of 1989.

The report was sent out to its private banking clients and stated that neither construction nor tourism, the two pillar of Spain’s economic boom, will be the enginges of growth from 2014.

The future of Spain, says the report will be in “internal devaluation” or specifically in dropping salaries so the country can become competitive again.

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