Housing prices in Spain continue to rise, but at a slower pace…
Americans often wonder if they’re the only ones to suffer rising prices. The Spanish economy has been unbelievably hot starting one or two years before the conversion to the Euro from the Peseta. One aspect of this red hot economy is the rise in housing prices.
For the quarter just ending, new housing prices in Spain had slowed to a growth rate of 17.17% while used housing prices slowed to an annual increase of 17.29%. Compare this to US price increases of only 12.5% for the same period.
The Spanish Housing ministry estimates that Spanish home prices have risen 140% since 1997.