Spanish Property

Spanish property prices are heading for a further drop in 2014, says the US Ratings Agency, Moody’s. Due to “excessive stock and weak demand” property prices in Spain will continue to decline this year.

Moody’s also suggests that Foreign-borrower loans are 3.3 times more likely to default based on the fact that the unemployment rate in the second quarter of 2013 among foreigners was 35.7%, much higher than the 24.7% among Spaniards.

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