The average age for purchasing an appartment for the Spanish was thirty-three years of age during the first half of 2009, which indicates that the buyers are becoming younger and younger, according to a survey carried out by the Expofincas Group, a specialist in real estate intermediation.
The madness that the outrageous increase in the price of flats led to reached its zenith in mid-2008, when a Spaniard had to pay over half of everything he earned to pay for his home. In only half a year, this percentage has dropped from 51% to 38.6%.
The prices of housing on the open market were reduced by 7.7% at the interannual rate during the second quarter of the year, one tenth of one per cent more than they dropped in the first quarter (-7,6%) and 2.3 points more than they cheapened in the last three months of 2008 (-5,4%), according to the National Statistical Institute (INE).