Property prices down

The price of houses along the Spanish Mediterranean coast dropped by 8.3% last month in comparison with August 2007, report Spains biggest surveyors TINSA.
TINSA reports that since March, prices have been falling gradually in all areas and that an expected ‘stock’ of between 800,000 and 900,000 unsold new homes are expected to be on the market by the end of this year, this does not include resale property.
The average national price dropped by 4.6% last month.