Eurostat recently reported a 5.6 per cent increase in the value of residential property in Spain over the last twelve months, compared to a 3.8% rise in the Eurozone and 4.4% in the EU as a whole.
The highest annual increases in house prices in the second quarter of 2017 among the Member States were recorded in the Czech Republic (13.3%), the Republic of Ireland (10.6%) and Lituania (10.2%). The figure in Spain is an encouraging 5.6%, following a 2% rise during the second quarter of 2017 alone.
Spanish property is now valued at 3.2% higher than a year ago, showing twelve months of consecutive rises. The upward trend in housing values started to become more pronounced at the start of 2017, with the overall nationwide appreciation of 4.5%, with rises of 6.4% in Madrid and Barcelona, 5.4% along the Mediterranean Coast (which includes properties in the Costa del Sol) and 7.4% in the Balearics and the Canaries.
While a considerable variation amongst the different Spanish regions remains, the Eurostat report is further confirmation that the outlook for the Spanish property market and by extension the construction sector, remains very positive.
Are you interested in buying a property in Spain? Contact Domus Venaritoday to speak with one of our property consultants about what we can do to help you find the property of your dreams on the Costa del Sol.