Housing price data published recently shows that Spanish property prices rose faster than EU and Eurozone averages in 2017 according to the data from Eurostat the EU statistics bureau.
Average property prices in Spain rose by 7.2% last year, compared with 4.5% in the EU and 4.2% in the Eurozone. This shows the property slump is over making buying a Spanish property a good investment. With the range of off-plan developments now being constructed offering favourable payment terms, you can also be assured of getting a contemporary home that will have the benefit of a guarantee.
The highest increases in residential property prices elsewhere in Europe in the last quarter of 2017 occurred in Ireland (11.8%), Portugal (10.5%) and Slovenia (10.0%). Italy in contrast, reported the biggest decrease when prices fell by 0.3%.During the last quarter of 2017 property prices grew the most in Slovenia (3.7%), Croatia (3.2%) and Cyprus (2.7%), compared with the previous quarters data. The biggest quarter-on-quarter decreases were reported in Sweden (2.8%), Denmark (1.7%), Belgium (0.4%) and Finland (0.3%).
We have seen a strong start to this year here at Bromley Estates where the modern and contemporary developments whether apartments or villas prove to be popular as second homes. The Spanish property market had a strong start to the year with prices growing by 3.8% year-on-year in the first quarter of 2018 with Madrid reporting the most significant rise (17%), followed by Palma de Mallorca (14.7%), according to property valuation firm Tinsa.
According to the Instituto de Práctica Empresarial (IPE) house prices are forecast to grow across the country by an average figure of 6.1% this year meaning that whether you are looking to buy and rent out your property or just buy a second or third home – that property will be a real investment in a country with a fabulous climate that continues to draw in foreign visitors. Contact one of our team to see how we can help to choose the best location for the lifestyle you want.