FOOk Me some right bargins !!!!!!! House prices in Spain have fallen off a cliff since the start of the global financial crisis — down an average 50per cent since 2007. In some regions, the falls are even more dramatic with homes once worth more than £2million now being flogged for a third of that. There is no sign of these falls ending any time soon, and a building boom before economic woes began means there are an estimated one million empty homes. Banks are poised to flood the market with 91,000 repossessed properties and property websites are jammed with adverts from desperate borrowers knocking up to 50per cent off the value of their homes — and some are incredible. A medieval castle in the Pyrenees renovated by a leading architect is available for £562,000, reduced from £1.3million. It has 3.6 acres of woodland, orchards and a library. In Granada, a six-bedroom mountain villa with landscaped garden, pool and hot-tub is going for £337,000, down from £734,000, according to hotprop- ertiesinspain.cRead more: dailymail.co.uk/money/mortgageshome/article-2385630/Should-snap-cut-price-home-sun.html#ixzz2bH8YSRWh Follow us: @MailOnline on Twitter | DailyMail on Facebook
Posted on: Wed, 07 Aug 2013 09:52:10 +0000
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