The year that brought political uncertainty across Spain and world-shaking events that adversely affected the UK economy has been a prosperous one for the Spanish property market, according to a report published by valuation firm ST Tasación.
ST reported that new builds in Spain had increased in overall price by 3.3% as demand grew for Spanish property. The largest increase was in the region of Catalunya, an impressive 3.5% rise.
However, this increase still doesn’t dethrone Barcelona, which has the highest overall property prices in Spain, averaging €3,518 per square metre.
Price rises observed across all 17 Spanish regions
The value of housing in Spain has been steadily growing for some time now, but until recently, the growth was happening merely in the vast majority of Spain’s regions, excluding a couple of regions that had in fact seen decreasing values.
The report from ST shows that over the last 12 months, property has experienced an increase in value across every single region in Spain. Even the typically sluggish northern regions such as Aragón, Cantabria and Asturias saw steady property prices and at the end of the year, an increase in value, the lowest being 0.2% for Cantabria.
ST is confident that this growth will continue well into 2017 and affect all regions of Spain, which is understandable given the growth that has occurred within the Spanish property market recently.
This growth has been the continuation of a boom that started in 2015 after nearly 10 years of abysmal property sales, widespread depreciation and almost no new builds or developments. All of this is turning around, giving prospective expatriates another great reason to move to Spain.
Get on the property ladder with Winkworth
ST’s confidence in the continuing boom in Spanish property values may indicate that now is the best time to invest. Here at Winkworth, we are always marketing a wide variety of luxurious properties throughout many regions in Spain, providing you with a home that you can be proud of, as well as a very lucrative investment opportunity.
To learn more about the finest current property for sale in the Costa del Sol, Sotogrande, Estepona and many other gorgeous sun-drenched regions of Spain, simply get in touch with our highly professional team today.