MORE MARKET GROWTH Property prices rise by 8% in the Canary Islands The property market in the Canary Islands continues to grow – despite recent rises in interest rates and the cost of Spanish mortgage borrowing. Figures recently released by Spain’s Ministry of Housing indicate that prices across Spain rose by nearly 3% in the second quarter of 2006. With an annual rise of nearly 11% recorded across the country as a whole. Regional variations reveal that the most significant growth was recorded in the northern province of Galicia – where prices have traditionally been much lower than in the rest of Spain. Whilst the Canary Islands have recorded solid price growth of just under 8% year on year over this same period. Most leading authorities and industry observers predict continued positive growth over the coming twelve-month period.
