Own A House - real estate market news

As it has been spoken in the message of the government of Spain it is the first time for ten years that the rise in prices for the real estate in Spain does not exceed a rate of inflation.
Since March of the last year till this year March, the prices for houses have grown on 4 percent. for the same period Inflation has made 4.6 percent. These figures show that the prices for habitation in absolute figures have decreased for the first time since 1997.
The housing sector remained motive power of the Spanish economy within last 10 years, and has provided growth of a national economy for 7,5 percent. Low interest rates under hypothec credits in a combination with country’s entrance to the European Union in 1999, have led to boom in this sector of economy: Spaniards took credits for purchase of the “first” real estate or for sale smaller and purchases of the greater house.
The market has slowed down growth in the beginning of the last year because of growing credit rates and the stopped rise in prices for houses. International financial crisis has influenced stagnation of the market. In January, according to the government, the quantity of the given out sanctions to construction of houses reduced on 50,2 percent, and quantity of transactions of sale and purchase - on 27 percent.