Spanish Home Values up 4.3% According to EU Data
The statistics database of the European Union (Eurostat) found that the value of Spanish property rose by an average of 4.3% in 2015. This is above the average in Europe which is good news for buying property in Spain.
In the final quarter of last year the Spanish property values stayed steady so Spain could be seeing an end to the rising property prices that it saw in the past few quarters.
Homes in Spain saw an increase in value across all quarters leading to the property value being 4.3% higher than for the same period in 2014. The three previous quarters also saw an increase higher than 4%.
|Home prices in Costa del Sol are no the up|
Analysts feel confident that this trend will carry over into 2016. Data from the first quarter will be out soon and people in the housing industry are eagerly anticipating finding out if the encouraging results of 2015 will indeed lead to a great 2016.
In the whole of the EU property prices increased an average of 3.8% last year. Sweden was ahead of the league with an average rise of 14.2%. Hungary came second with 10.3% and the UK came third with 7.1%.
Croatia, Italy and Cyprus, all of whom have been considered the next big thing when it comes to overseas investment, fell flat. They saw a contraction of 2.1%, 0.9% and 0.6% respectively.
It’s been predicted by CBRE that Spanish property prices will rise by as much as 5% in 2016.
Overall buying property in Spain is a good investment and looks to continue to rise over the next few years.