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Metrovacesa Spanish property market and other economic forecasts 2005

Article Date : Saturday, April 30, 2005       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Metrovacesa, one of Spain's largest developers, has released forecasts for the Spanish real estate sector in 2005. The report envisages that the number of property transactions will increase to 950,000 from 868,000 in 2004 but that property price inflation will drop to between 5% and 15%, compared to 17.4% in 2004.
Spanish property market forecasts 2004 - 2005 by Metrovacesa
2004 2005 forecast
GDP REAL GROWTH
Spain 2.7% 2.7%
Euro Zone 1.8% 1.6%
OECD 3.6% 2.9%
EMPLOYMENT IN SPAIN
Increase in number of jobs 362,400 245,300
Unemployment rate 10.5% 10%
NEW HOUSEHOLD FORMATION 244,800 273,400
INTEREST RATES IN SPAIN
Nominal annual effective rate 3.36% 3.40%
Real interest rates 0.16% 0.40%
PROPERTY MARKET FIGURES
Housing starts 687,100 650,000
New properties completed 556,000 575,000
% growth in housing stock 2.4% 2.5%
Number of property appraisals 868,000 950,000
Property price increase 17.4% 5% - 15%

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