real estate in Spain

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Housing prices rising in Spain only the peak of a huge non-sold stock iceberg

MADRID | Ana Fuentes | The first rise in Spain’s property prices since 2008 made big headlines on Monday. The government was proud to feed the press with some positive figures in order to illustrate its new recovery rethoric: 2Q housing prices increased by 0.8% on the year, compared with a 1.6% drop in annual terms in 1Q. But prices are going up… only for the few real estate actually being sold. What about the 600,000 properties in stock that banks are desperate to get rid of?