The Spanish property market has recorded its sharpest increase in property prices since 2007, new figures show.
According to leading property valuation firm Tinsa, average property prices across Spain were 6.4 per cent higher in June 2018 than they had been in June 2017. An 11-year high. What’s more, values of properties located in regional capitals and large cities were up by 10.2 per cent and those on the Mediterranean Coast up by 7.4 per cent.
While the average property price in Spain is still 35.7 per lower that it had been at its peak in 2007, they are now 12 per cent more than what they were when the market reached its nadir in 2015.
The latest data reveals that its not only prices that are rising in the country. Sales figures for the first four months of this year were also up by 29.7 per cent on the same period last year, while the number of building licences granted has also risen by 44.8 per cent year-on-year.
All of this data will be seen as hugely positive as Spain continues to recover from the problems which have plagued the market for the best part of the last decade.
Article published 18th July 2018