Leading valuation firm, Tinsa published a report this month that showed a a 10.6 per cent rise in residential property values across Spain since February 2015. Price rises in the month of July saw a 4.6 per cent rise, following one of the most positive months in eleven years in June.
Average market values have seen steady increases since the market bottomed out in February 2015, although it is still 36.5 per cent lower than the peak reach during the boom. Recovery in prices is now being seen across all city and coastal areas, with slight decreases but steadying markets across the surrounding municipalities.
In July, the sharpest increases were recorded in the regional capitals and other large cities at 7.6 per cent, followed by rises of 3.4 per cent in the Balearic and Canary Islands and 2.1 per cent in Mediterranean coastal areas such as the Costa del Sol.
At a glance, building licenses showed a 23.8 per cent year on year increase in May, as well as an 11.2 per cent rise in the number of residential mortgages granted. Euribor, the interest rate on which most mortgage repayments in Spain are calculated is also currently at -0.180% in July, still very close to its lowest level ever.
Conditions for investors in the Spanish property market continue to be extremely positive. Analysts and property specialists expect the trend to continue to push prices upwards in prime areas across Spain.
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