Property Prices in Spain
Property Prices in Spain
There’s good news for those of us who own property in Spain (or keep looking for an excuse to buy!); property valuation experts Tinsa have produced a monthly valuation report showing that compared to June 2017, Property Prices in Spain have increased 6.4% in June of 2018 compared to last year.
The July increase was not quite as jaw-dropping, but still an impressive 4.3% value increase. The strengthening of the residential real estate market is reassuring and confidence-boosting.
While the trend had been positive year-on-year in June, there hadn’t been a rise in Property Prices in Spain like this in a year since 2007.
2007 Was the absolute peak of the real estate boom and while we’re definitely not back at those glory day levels (residential property in Spain is 35.7% lower than then, on average) there is definitely cause for optimism.
In fact, many industry experts have gone all in to firmly state that there are good prospects for growth. This is in large part due to demand surpassing supply and the fact that the Spanish economy is improving overall. We’re no longer ‘in recovery’, but almost up and running again.
As a result, the number of property transactions continues to rise, going up by 7.7% between May 2017 and May 2018, and investors are growing in confidence.
So what does this mean for us in the Costal del Sol?
Although not at the levels of increase seen in big cities and capitals of provinces – June and July saw a 10.2% and 7.6% rise respectively – the value increase on the Mediterranean coast is above average. June’s growth in particular was an exceptional 7.4%.
Both these statistics and our own experience show us that property prices in Costa del Sol are only going to keep rising so it’s an ideal time to take the plunge and invest in a property. You can’t ignore numbers like this and real estate is becoming reliable asset both now and in the future.
Not to mention the fact that investment in Costa del Sol property means you’ll get to spend time in one of the most beautiful areas in Spain. The Marbella Golden Triangle with its stretches of golden beach in Marbella, the mountainous paths of Benahavis and luxury resorts of Estepona all make this an attractive place to purchase a home.
Investing in the earlier stages of growth means you’re more likely to benefit from the increase in value and don’t get priced out when things go up more. There’s a wide range of properties available, from luxury beachside villas to elegant golf resort apartment complexes.
It also just means you get to spend even more time enjoying the Costa del Sol lifestyle.
So make the most of what’s being termed a ‘golden age’ of Spanish property, benefit from the property prices in Costa del Sol and make your dream home a reality.