Leading property valuation firm Tinsa reported a 3.8% rise in property value across Spain in the first quarter of this year.
As always, the national average continues to reveal a great deal of variation from region to region. Market value increased the most in Madrid, with a rise of 15.5 per cent, Navarra with 12.1 per cent and the Balearics with 10.5 per cent. Extremadura, Castilla-La Mancha and Galicia remain the Autonomous Communities on the other end of the scale, just reaching the national average.
The reported increase continues the bounce-back of Spanish property prices that reached an increase of 7.2% after the national average bottomed out in 2015 and signals a positive start to the year.
Investment in Spanish property soared to 9.2 billion euros in 2017
Property investment in Spain increased by 9% in 2017 totalling €9.2 billion.
According to a recent report by Savills Aguirre Newman, foreign investors accounted for 65% of the total sales transactions recorded in Spain last year, increasing 56% in 2016. British and European buyers therefore invested a total of €6 billion into the Spanish property market in 2017.
Property investment across Europe rose by 7% to a total of €234 billion in 2017 from the year before.