Monday, 20 March 2017

Data from Notary Reveals Spanish Property Prices Increased 5.67% in 2016

Data from Notary Reveals Spanish Property Prices Increased 5.67% in 2016

Spend enough time on the internet and you’ll be able to find some headline, statistic, or opinion that matches any kind of preconceived notion you might have. The Spanish property market is no exception.
Spanish Property continues to sell and increase from previous years
Several media outlets are all too happy to keep painting their picture of grim desperation. One source even tried to claim that Spanish property prices are in the middle of an alarming freefall.

It’s quite easy to debunk these stories, mostly because every respected economist and analyst in the country has examples of reliable data showing that property prices continue to increase across the country following 2014, when they hit rock bottom.

The actual figures might differ between establishments such as the Deutsche Bank to the National Statistics Institute, the trend is clear and unchanging; prices are on the rise, and have been so for three years now.

The latest figures published this week by the Spanish Notaries Association further confirms the trend, as it shows the average price per square metre in Spain increased 5.67% during 2016 compared to 2015.

The notary data shows that foreign interest was as strong as ever in Spain during 2016, as 13.25% of all homes sold in Spain were sold to non-Spaniards. In terms of real data, this is around 53,000 homes; 19% of which were sold to British buyers.

This means that Brits are responsible for 2.5% of every homesold in Spain in 2016; double the amount of properties purchased by the Germans; who are the second-strongest foreign market.