Over the course of 2004, Spain saw more new houses built than Germany, France and Italy combined, continuing a trend that equates to over 20 per cent of all Spanish properties being built during the past decade. According to research conducted by Assetz, a property investment company, Spain is leading the European holiday home market. Last year c. 54,000 people moved to Spain, approximately 15 per cent of the total number of people who moved abroad overall. Popular locations included Barcelona, Marbella and the Costa del Sol which have all seen a dramatic surge in house building.
Concerns have arisen that due to economic and physical limitations, the pace of development of the Spanish property market may not be sustainable in the long-term. If pressure from lobby and environmental groups work to curb excessive house building, Spanish property development may begin to fall off and lead to increased demand for existing properties. The corresponding impact on property prices is expected to follow.
999Today.com - July 11, 2005
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