Spain's Metrovacesa real estate discount sales: Adios Pisos. Are these of value for money?

Right, Metrovacesa suffered hard times last year since they had a great houses stock still to be sold. About 2 kmts from my own house they have great houses and they offered good descounts in order to get rid of this large amount of houses pending to be sold. There is going to be a tax increase in ten days, and this increase will put higher prices in theese houses, I believe the real estate prices are going to get a bit downwards after summer so then there will be good options since many spaniards used to buy houses to speculate since the housing bubble was huge to get fresh money just for buying and selling houses.

Right now, Metrovacesa is amongst the 9 big real estate companies in Spain which are present in the stock exchange, the others are: Renta Corporación, Quabit, Colonial, Fadesa, Reyal Urbis, Realia, Testa y Vallehermoso. All these companies saw their revenues reduced a 53,1% between January - March 2010. Metrovacesa is leading the real estate ranking on higher debt, with € 5.786,5 millions, but is still waiting for its debt to get refinanced.

I hope this helps you but If you are interested in real estate I recommend to wait until the summer goes by.

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