The residential property market in Spain is approximately 20% over its value, according to a recent survey conducted by Pricewaterhouse Coopers.

Of the near 300 property professionals that took part in the survey, 59% believe that the residential property market is overvalued. While 64% thinks that this situation is sustainable in time. However there is concern that interest rates may be set to rise. 80% believe that the European Central Bank should not raise the rate, so as not to disrupt the markets stability.