House price inflation forecast to slow down
From 123propertynews.com
Although the price of residential property in Spain is still rising, the Ministerio de Vivienda, or Housing Ministry, has forecast that prices will not rise so quickly during 2005 as they have during the last few years.
While house price inflation stood at 17% during 2004, in line with price increases during the four preceding years, government officials have stated that they expect price rises for residential property to moderate during the course of this year, attaining increases of at most 12%. During 2006, it is expected that house price inflation will moderate even further, to 9%.
It has also been forecast that the number of house starts will remain high over the next few years, with as many as 484,000 residences being built per year; 300,000 of these residences will be principal residences, with many of the rest being built for holiday purposes.
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