Archives for November 2004

November 19th, 2004

According to the Bank of Spain, foreigners bought almost 100,000 holiday homes in Spain last year, spending a record 7.2bn Euro.Foreign demand for a second or retirement home on the Spanish coast is still there, but there are signs that growth is starting to slow. New housing starts this year ...

Continue reading Growth in Spain starting to slow

November 16th, 2004

The Spanish property boom continues, fuelled in part by an abundance of cheap credit. Bank loans in mid-2004 were growing at an annualised rate of 16.3% - six times the 2.6% rate of growth in the economy. House prices, which have more than doubled since 1996, rose by 17% in ...

Continue reading House prices up 17% in first six months of 2004

November 1st, 2004

Last month, Spain was singled out in the European Central Bank’s monthly bulletin as having the biggest residential property inflation in the euro area, with the country’s housing prices increasing at a rate nearly two-and-a-half times the euro-wide average in 2003. The ECB estimates the average increase in residential property prices ...

Continue reading Spanish house price rises highest in Europe