Spanish property data revealed that official valuations set by the Ministry of Fomento show there is a moderate increase in the housing market as new construction and resale properties are in demand. Alicante province house prices have held steady from 2014 till the present, with slow yet constant growth. The figures published last week show an increase of 1.6% over the past 12 months, which is currently in line with the inflation rate, which also shows a steady rise of 0.3% again during the same second quarter of 2017. Although the latest figures have been released there are still some large variations between Spain's 50 provinces that are in the 17 regions that make up the whole of Spain. The Alicante region's latest figures show that property house valuations are currently valued at 1.240€ per meter square, this indicates a continued rise of 1.2% in the current market trend over the last year.

In the other regions of Spain an increase of 3.6% in Madrid, 3.2% in the Canary Islands, 4.2% in Catalunya, the Balearic Islands 3.3%, in Aragon 3%, in Extremadura has 2% and finally the last one Castilla & Leon coming in at 1.7%, a slow increase is a good sign of steady growth. Overall the Alicante province data shows that in the past 3 years properties have kept well balanced with current values between 1.200€ per meter square to 1.240€ per meter square from 2014 records. We can analyse the data that shows a fall of 28% since the boom of 2008 before the crash as figures were at an all-time high of 1.750€ per meter square, hence a 27% fall in prices.

Looking at the bigger picture the Spanish housing market is on the up, with the new cost of new development going up in price from one phase to the next, so it looks very promising with a continued slow and steady growth in the Spanish property market. Now would be a good time to invest in property so if you are looking for an investment or holiday home, or even if you are thinking of relocating, then feel free to contact NewStart Estates as we have many properties for all budgets.