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News: Spanish house prices on a steady march upwards records show

Spanish house prices on a steady march upwards records show

Spanish Authorities are currently extremely pleased to report positive growth in the Residential Spanish Homes Market, and state that 'The market is now back on track to recovery as house prices climb in a slow but steady march upwards'.

In fact, home prices shot up on average by a healthy 3.6% this May compared to the same month last year. Actually - in major cities, and along the Mediterranean coast, the rise was even better, at 4.7%.

May's increase means that average home prices in Spain are now roughly comparable with 2013. If we adjust the prices for inflation, there are also similarities with September 2003, when the market was heading towards to its highest figure.

Research from TINSA showed that Spain's slow but steady march towards prices seen during the boom years is continuing well into 2017.

Prices are on average 40% lower today than they were at the height of the property market's unsustainable success in 2007. It is predicted that it might take another decade for them to once again reach those heights - but property experts are confident that gradual progress will continue.

In many respects, slower is considerably better - thereby allowing the market to evolve naturally, rather than rushing into another period of untenable highs. The current situation, therefore, offers significant opportunities at this time for profitable investment by current buyers as prices continue to march upwards!!

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