Perhaps, it's hard to imagine that something as promising and enticing, as the housing market in Spain, even some three years ago. With performance that he showed at the time, could not compete with any European Bank: a ten-year continuous rise of 12% per annum for 2005, even without considering the possible income from property rental. And what exactly is protected by bank deposit guarantees are not always clear, and have assets that has the Kingdom of Spain, has an important advantage – the visibility. The Royal Palace and Retiro Park in Madrid, Columbus Museum in Barcelona, Zaragoza medieval cathedral, famous for bullfights, soccer club 'Real' and the white sand beach with fir-pine aroma on the Costa Brava – things quite tangible. Buying yourself 'slice of Spain' could be on the one hand, to get a good profit, but on the other – to join the bustling holiday Iberian life. Not surprisingly, many people, investing in the Spanish property chosen this form of 'savings' contribution. HISTORY OF THE FALL If the same in 2005, which showed a record 12% price increase in Spain grew only housing market, it could be attributed to the not so rare cases of speculative growth, but there are other indicators look just fine. The economy showed stable growth, and the period from 2000 jobs Spain has been created even more than in the rest of the United Europe. In 2006, growth in house prices has slowed somewhat, but it also turned out pretty good – 9.1%.