Average prices up 5.45% in first six months of 2007

As the title above says, the avearge price per square meter of residential property throughout Spain has increased by 5.45% during the first six months of 2007. This may come as a surprise to doom and gloom merchants but is based on a study of the transactions carried out by the real estate franchise group Tecnocasa (200 offices in Spain). To put it in perspective, that figure is well down on the 18% or so during the first six months of 2006. However, it does show that property prices are still on the up (on average).

Also of interest was that the average property takes 112 days to sell during the first six months of 2007 compared to 94 days inb the same period of 2006.

All this really confirms that the market is slowing but not collapsing as some would have you believe.