House prices rise 9.1pc – lowest increase since 2000

19th January 2007, Comments 0 comments

19 January 2007, MADRID – House prices rise 9.1pc in 2006 – the lowest increase since 2000, indicating a clear deceleration in the construction sector.

19 January 2007

MADRID – House prices rise 9.1pc in 2006 – the lowest increase since 2000, indicating a clear deceleration in the construction sector.

The increase is 3.7 points lower than the rise in prices for 2005, according to figures released by the Ministry of Housing on Friday.

It is the lowest increase in house prices since 2000.

The average price of property is now EUR 1,990 per square metre.

The fall in house price rises was most noticeable in 'second hand' properties or homes which are not brand new. These make up the majority of the market.

They rose 8.6 percent last year – almost 13 points less than in 2003. New flats went up 9.6 percent.

A spokesman for the ministry said: "The process of deceleration is most evident if we compare the prices and how they changed last year."

[Copyright EFE with Expatica]

Subject: Spanish news

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