She urged promoters to make efforts to ensure that property prices "adapt" to the current demands of the market.

Pointing out that there are upto 1 million vacant properties in Spain, but only around 450 thousand potential buyers, the minister encouraged developers "to be able to adjust their prices" in line with supply and demand theories.

Private sales, with the abscense of Estate agents commissions fees, are the very best way for owners to walk away from a sale with the capitol that they need in the current climate.

Ms Corredor was also forced to admit that the current financial crisis - rising prices, rising unemployment, rising interest rates, reduced economic growth - is making it difficult for "many more families" to either get on the property ladder in the first place, or afford their mortgage repayments once they do.