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They demand banks not to lower house pricing, instead, lower fiscal pression on foreign house buyers

President of Spanish Real Estate Agents and Constructors Association (APCE), José Manuel Galindo, demands not to lower construction assets to "excessively low levels" due to consequences on Real Estate. Instead, he asks of banks to act according to interest rate or installment plans.

Looking abroad would only benefit Spain according to Mr. Galindo. For that reason, he propose "tax incentives not only to resisdents but also foreigners".

Turns out there are more factors than house pricing to persuade house hunters. Last Tuesday we read on El Mundo newspaper how mortgages would go down even more during 2012.

"No matter how much we lower prices when there's no financing available to buyers".- added Mr. Galindo.

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