The Spanish housing market is now into its fifth year of expansion since the market turned the corner at the start of 2014. There has been an upsurge in quality new developments that our clients love due to a combination of contemporary design, ideal location and great amenities.
According to the latest data from the Association of Spanish Notaries the Spanish housing market expanded by 7.7% in May with 51,896 sales in total. This is across Spain in total and we are noticing an upturn in foreign buyers still finding Spain a very attractive prospect.
The notaries’ latest report also reveals that average house prices increased by 0.6% to 1,372 €/m2, and mortgage lending increased by 9.3%. This shows a marginal increase in prices that is not putting people off applying for a mortgage. Prices along the Costa del Sol are still very reasonable and here at Bromley Estates we can help you find the property to suit your budget and lifestyle.
We have been helping people find main homes if they are relocating and second homes/holiday homes since 2008 so we know our market and we know where to find the very best property for your investment.
In April, new residential mortgage lending increased by 22%, a big rebound compared to March, when the growth rate of just 2% was the result of seasonality. The average new loan in April was €133,456, down 3.3% compared to last year. This shows compared to UK prices, it is still very cost effective to buy in Spain and even talk of Brexit isn’t putting people of investing in their dreams to own property abroad.
Whether you are looking for a comfortable two-bedroom apartment with great sea views or an elegant villa we have those and everything in between to appeal to clients far and wide. Come and talk to one of our friendly multilingual team to find out more.