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Malaga reigns among positive Spanish property stats for Q1

Spanishproperty prices have been rising at a steady rate recently and new stats byvaluations firm Tinsa reinforce a continued period of sustainable growth.

Both new buildand second-hand properties in Spain have increased in value inter annually forthe last 10 consecutive quarters. The average price of a Spanish home is at 1,349 per square metre in Q1 of 2019,the third consecutive monthly rise, with a year-on-year price appreciation of4.9%.

While themajor growth is still concentrated in and around Madrid and Cataluña,property prices across the nation have increased by 12.4% onaverage since bottoming out after the crisis. However, property in cities likeBarcelona, Madrid, Malaga, Palma and San Sebastian have increased by 30% sincethe onset of the recovery period post-2007.

Notably, Tinsa’smost recent analysis urges a sense of sustainable growth, rather than atendency towards a boom and bust cycle. Overall, prices on a national level arestill 34.1% below the highest ever recorded in 2007, though some provinces andcapitals with typically low valuation figures have also now posted strongquarterly gains, including growth stats above 10% in regional capitals such asMálaga, Zaragoza and Palma de Mallorca.

According tothe report, Andalucía saw a 5.2% year-on-year residential property price risein the first quarter of 2019, slightly above the national average overall. Theaverage price per square metre in the southern region of Spain wasrecorded at 1,235. This is significantly lead by the surge in interestin Malaga, home of the Costadel Sol,which registered an inter annual price increase of 10.6% at an average houseprice of 1,635 per square metre — comparableonly to house prices in say, NewtonLe Willows in the North West of England, Buxton in the East Midlands or Carlukein Scotland (priced between £1,336-1,892 per square metre) and far below pricesin Greater London, at £5,106 per square metre.

Regardlessof the outcome of Brexit, British buyers can essentially take advantage ofinvesting in a property in sunny Spain for much cheaper than even the lower endof the domestic real estate market in the UK. Whether you are looking torelocate permanently or not, opting to buy a Spanish property in the currentclimate makes for a sound long-term investment.

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