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Metrovacesa Spanish property market and other economic forecasts 2005
Article Date : 30 April 2005
News Section: Spain
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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Article created on behalf of Propertyshowrooms.com News Desk (http://www.propertyshowrooms.com/news/)