Spanish resale homes boom

Article Date : Thursday, April 28, 2005

Prices of resale homes in Spain are rising faster than those for new-builds for the first time in a decade. New home prices in Spain rose by 16.19% last year on average, according to the latest figures from the Spanish College of Registered Homeowners, but used or second-hand homes increased by 17.35% while new houses or apartments went up by 14.5%. Member banks of the Confederación de Española de Cajas de Ahorros (CECA) are forecasting equity growth of 12% for 2005 and 2006. The CECA banks, who between them hold 68% of all mortgages in Spain, confirmed that second-hand or used homes were the most popular section of the market, adding up to 57% of transactions. Above article from Property Investor News

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Spanish resale homes boom

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