»»Fears of Property Market Crash in Spain
Spain’s economy has been growing strongly in recent years, driven mainly by expansion in the construction industry. […] However, in recent months cracks have started to appear and mortgage demand has slowed as homeownership levels topped 85%. […]
Analysts said that while the current fears of a crash may be over amplified, the Spanish property boom that had provided strong returns for the past eight years was probably over. […]
The worry is that should the suspected property bubble burst, and some analysts estimate that house prices are overvalued by 30%, then many other industries such as banking and retail would also suffer.
(source)
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