Property prices in Spain are expected to increase by 6.1% in 2018, according to a new forecast by the IPE. The National Statistics Institute's housing price index shows a year-on-year price rise of 6.7% in 2017, the largest increase since the index was established in 2007.
Spanish property prices dropped by up to 50% following the financial crash in 2008 and have seen four years of consecutive growth in the last four years. Prices have now risen by more than 20% since 2012 and according to the Property Outlook Report, that is expected to continue in 2018.
Spain has one of the fastest growing economies in the EU and the continued growth of the property market is further positioning Spain as one of the most attractive places to invest in real estate in the world.
Across the Eurozone, average prices rises currently stand at 4%. In the third quarter of 2017, the Czech Republic saw among the highest price hike with 12.3% and at the bottom of the spectrum, property prices fell by almost 1% in Italy.