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News: Property prices are still rising for the second quarter on the Spanish Costa Blanca

28 Sep 2017 Back
Property prices are still rising for the second quarter on the Spanish Costa Blanca

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 show that they are holding steady from 2014 till present, with a slow yet constant growth. The figures that were published last week shows an increase of 1.6% over the past 12 months, which is currently in line with the inflation rate, that 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 the Spain's 50 provinces that are in the 17 regions that make up the whole of Spain. The Alicante regions 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 provinces 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 the all-time high of 1.750€ per meter square, hence 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 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.

Let us help you find your NewStart here in Spain, get in touch we would love to hear from you. Tel +34 965 038 990 | Mob +34 665 383 392 | UK +4420 3813 1881 or email: info@newstartestates.com

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