According to data released by the Bank of Spain, Spaniards invested just more than €1.1 billion in property outside Spain during the first half of this year (2008), which is 40.1% less than in the same period of 2007.

The above figure contrasts with the recent trend in the indicator.

Since 2003, realty investment outside Spain by administration and other residential segmenta, excluding the Bank of Spain, had been developing at a steady pace: from €388 million in 2003 to €781 million in 2004, €1.5 billion in 2005, nearly €2.3 billion in 2006 and €3.3 billion in 2007.

In the meantime, the trend in foreign investment in Spanish property was the reverse, falling from just short of €7.1 billion in 2003 to €6.65 billion in 2004, €5.5 billion in 2005 and €4.7 billion in 2006.

This trend changed during the last year (2007), however, as foreign investors put €5.37 billion into homes in Spain, up 14.2% compared to 2006.

The figure during the first half of 2008 stood at €2.86 billion euros, 7.8% more than in the same period of 2007.