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Construction Industry in Spain Report - Key Trends and Opportunities 2013-2016
M2 - Tue Jul 09, 9:27AM CDT
Research and Markets (http://www.researchandmarkets.com/research/s4x3rh/construction_in) has announced the addition of the "Construction in Spain - Key Trends and Opportunities to 2016" report to their offering. During 2000-2007, the Spanish economy recorded an average annual growth rate of 3.8%, which can be attributed to growth in the Spanish construction industry. Factors such as low mortgage rates and investment by domestic as well as foreign investors helped drive the construction industry. Owning a home has become a part of the Spanish psyche and the ratio of owner occupied housing units to total residential units (house ownership) in Spain is over 80%. As the global economic crisis became more prevalent, the construction industry was severely impacted. Uncertain economic scenarios started dampening consumer sentiment causing a decline in investment from foreign countries in real estate property. Unemployment increased rapidly and many households found it difficult to repay their mortgages, impacting