Spanish Government Announces Official Property Price Inflation Figures

March 26, 2007

According to the Spanish government’s figures, average Spanish property prices rose in nominal terms by 9.1% over 12 months to the end of 2006.

The average cost of constructed property in Spain is now 1,990 Euros/m2.

This represents a clear stablization in Spanish property inflation, down from 18.5% in 2003, 17.2% in 2004, and 12.8% in 2005.

Based on the Spanish government’s figures, it looks like the Spanish property market is on course for a soft landing, in which property prices are predicted to rise by 8% in 2007.

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