Property Price Crash in Spain

[Carol]

The head of the Spanish Central Bank says that due to euor membership (and therefore not being able to set their own interest rates), prices in Spain's property is 30% over valued.
Will be interesting to see how this effects investor confidence here in Croatia. It could go either way for Croatia. One thing is certain though... prices in Spain are falling which makes them very competitive with Croatia.
www.moneyweek.com/file/28641/has-spains-property-bubble-just-burst.html

[londonhack]

carol i mentioned this briefly in another post. I have a friend who lives in a villa near Alicante - she's one of the few brits there; it's mostly dutch and german expats. According to her many Germans are putting their properties up for sale as their govt has just introduced some kind of tax on holiday homes abroad.