Spanish house prices rising at fastest rate since 2007
Average house prices in Spain have risen 4.5% in 12 months, according to the latest figures.
In the past 12 months to September 2015, house prices have been seen to rise at the fastest rate since the pre-crisis property boom. Research from the National Institute of Statistics, which is based on data from the Property Register, represented an increase of almost 5% over the past year. The quarterly figures for Q3 showed a 0.7% rise over three months – the sixth consecutive quarter to see an increase in house prices, indicating a sustainable recovery across Spain.
The report also highlighted the house price growth across every region of Spain over the last 12 months, with some areas seeing a greater price increase than others.
This news follows on from a market increase of 15% across Spain, with property sales and rental demand adding to its growing economy. Reports have shown over 27,000 homes sold in Spain throughout September alone, demonstrating a high demand that is set to continue for the foreseeable future.
Sequre’s managing director, Graham Davidson, comments on the increase in Spain’s house prices –
“This is the news that many have been waiting for. While Spain has been making a remarkably strong economic recovery over the past year, house prices have remained low. Rental demand, mortgage approvals, property sales and new build construction all saw a significant increase across 2015, however, there was concern that house prices were remaining quite stagnant.”
“To now see reports that house prices have not just increased by 4.5% in the space of 12 months, but also have risen at their fastest rate since pre-crisis levels is a particularly positive step forward. Those who are looking at buying in Spain can now do so with full confidence that their purchase will be a safe and healthy investment for the future.”
To find out more about the properties we have available in Spain, contact Sequre today. We source properties in a number of locations across Spain including the Costa del Sol, Costa Blanca, Costa Calida and Orihuela Costa. Our subsidised inspection trips start from as little as £149 for 4* accommodation, flights and airport transfers. This allows buyers to view locations and properties of interest along with the opportunity to meet with English speaking Spanish lawyers and mortgage advisers.