The ongoing economic slump, rising unemployment rates, diminishing purchasing power, newly imposed property taxes and banks' conservative or no-loan policies have taken a massive bite out of the Southern Europe property market, which has screeched to a virtual standstill.
Aktuelna ekonomska kriza, povećana nezaposlenost, smanjena kupovna moć, novouvedeni porezi na imovinu i konzervativna politika banaka koje retko izdaju kredite teško su pogodili tržište nekretnina u Južnoj Evropi, koje je bukvalno zamrlo.