Spanish property performs well at the start of 2018
Spanish property has made an encouraging start to 2018. A range of the major Spanish Property indexes have shown the market growing both in sales volume and prices. Tinsa, The Spanish Notaries Association, he National Institute of Statistics and S&P have produced very bullish property reports covering all of Spain as well as the Costa Blanca
1. Figures from Tinsa show that valuations grew by 4.5% on the previous year. The figures measured property price increases over the 12 months to December 2917. Mediterranean Costa property prices rose by 5.7%. This was higher than price increases recorded in the Canary Island and the Balearic Islands!
Interestingly the figures show Spanish property prices taking from 2008 to 2014 to start to recover from the international financial crises. Prices stabilise in 2015 and 2016 before starting to grow in 2017
2. The Spanish Notaries Association confirmed that sales volumes rose by 4.5% in December 2018. The figures also confirmed that prices increased by 1.8%.
3. In addition the National Institute of Statistics confirmed that sales volume rose by 16% in 2017. They confirmed that this was the fourth year of continue growth. It confirms that property prices in Valencia region rose by 19%. A very healthy figure for our own area of Costa Blanca and Villamartin in particular.
4. Also S&P produced its own Spanish Property report. In this it confirmed that in 2017 Spanish Property prices rose by 4%. Interestingly, it expect prices to rise by 3.5% in 2018. Sales volumes are also expected to increase. 17% of Spanish property purchases were made by non-Spanish purchasers. British were the main foreign buyers.
It also says that purchases by foreigners remained significant at around 17% of the total, from 10% on average for 2006 to 2013. British people remained the main foreign buyers but their purchases declined during 2017.
All in all very positive news for the Spanish Property market. We find the property market in Villamartin very brisk at the moment. Let us help you buy your bolt hole in Villamartin!!