New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

Spain property prices continues to grow in value 

New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

The latest data from Spanish property valuation firm Tinsa has shown that the average Spanish property price in Spain increased 4.3% in October of 2017 compared to 2016.

The statistics are for the entire country, meaning there are some regional variations to take note of, particularly the increase of 6.4% in provincial capitals and large cities like Barcelona, Madrid, and Malaga.

An interesting thing to note is that properties close to the Mediterranean coast have only increased 0.9% in market value for October over last year. This is somewhat of a blunt measurement by Tinsa however as anyone who lives on the Costa del Sol can tell you that not every Mediterranean region and resort is created equal.

Costa del Sol properties tend to increase at a steadier pace than in other areas. There are less peaks, but there are also less troughs, meaning that Tinsa putting all Mediterranean regions into a single category is somewhat misleading.

With this said, this category has also seen a 4.3% increase in home values over the first ten years of the year over the same period of time last year. That gives a better picture of how the markets in the Mediterranean are doing.

The market value data from Tinsa was published with a snapshot of different market indicators. Other statistics show that mortgage approvals improved 13.2% leading to August over the same period last year; a 7.91% reduction in employment to date in 2017; and the rather encouraging statistic that property sales have increased 14.3% in 2017 up to August compared to the same period of 2016. 

Mortgage Approvals Increase 33% in Spain in Summer

The banks in Spain are slowly relaxing there rules and giving

mortgages again 

Mortgage Approvals Increase 33% in Spain in Summer

The latest data from the Spanish National Statistics Institute (INE) shows that mortgage approvals during July increased 32.9% compared to the same month in 2016. 

The data shows that some 24,863 home mortgages in total were granted across Spain in one single month. The average value of the mortgages also increased 3.8% year-over-year to €119, 613. 

Overall Spanish banks loaned out a total of €2.97 billion in July, an 38% increase on the July of last year. 

Things get interesting when comparing it to the month of June, as mortgage approvals dropped 15.8% in July compared to June. The likely cause for this is that July is the peak of the holiday season, when many potential buyers are focusing on spending time on the beach rather than spending their money on investments. 

Andalucía in the Costa del Sol saw the most home mortgages granted, as 4,577 mortgages were approved in July. This was ahead of Madrid and Catalonia, which saw a respective 4,379 and 4,348 mortgages approved. 

The popularity of Andalucía is kept high thanks to places such as Marbella, which has become one of the most popular choices for second homes in Spain. British, Irish, German, and Scandinavian buyers alike can’t get enough of the area. 

It looks like the uncertainty of an independence “referendum” has done nothing to deter investors in Catalonia. The real estate consultancy firm Sotheby’s International Realty said that they have seen record sales in Catalonia as it appears investors are not nervous at all about the potential secession of the region. 

Idealista collated data for house prices in Barcelona that showed the average property in the city has increased in value by 9.2% across 2017, which is another sign that politics is having little to no effect on investment.

One thing is clear, buying property in Spain continues to be very popular.

Data Shows Increase of 47% and 55% in Home Sales and Prices Respectively in Spain

Spain continues to recover and sales are on the up

Data Shows Increase of 47% and 55% in Home Sales and Prices Respectively in Spain

A report collating data about Spanish home sales and value has discovered that – during the first six months of the year – property sales increased 47% over the previous year, while the value of homes in recorded sales increased 55%. 

The data in the report comes from the global real estate firm Lucas Fox, which primarily operates in high-end markets. This is why the average property price in their portfolio during the past six months reached as high as €750,000, which is much higher than the Spanish average. Even so, it does say a lot about the health of the Spanish real estate sector. 

Home values in all price brackets increased steadily across Spain 2017. Even so, this 55% increase for the top level of properties is much higher than the rises seen in other parts of the country. The amount of homes Lucas Fox sold also offers a positive look at the wider national trends of Spain, with the country registering an increase in transactions for over 15 months in a row. 

The data also analysed where the property buyers came from. The number of British buyers dropped 10% over last year – likely do to the impact of Brexit on the pound against the Euro. On the other hand, buyers from the US and Canada made up 10% of the property purchases in Spain. 32% of the Spanish properties sold were purchased to be either a second home or an investment. 23% of the properties sold were sold as a primary residence. 

Lucas Fox co-founder Alexander Vaughn says that the Spanish economy is one of the fastest growing ones in the Eurozone. This is bringing a lot of confidence to the property market. There’s been more interest from property investors who now feel that Spanish real estate has a lot of potential for capital gains and profitability from rentals. Lucas Fox expects the price recovery being observed now in cities will soon spread to the rest of the country.

Agents from Lucas Fox said that they saw a 150% increase in Marbella property sales, with 80% of the increase coming from Scandinavian buyers.

Spanish Property Prices Increase 5.6% in Second Quarter

Spanish Property Prices Increase 5.6% in Second Quarter

Property prices continue to rise and recover

from the 2009 crisis

It’s difficult to put together an accurate figure that tells all about the current state of Spanish property prices. Not only is there regional variation to contend with, but there are also a range of different metrics used, including average mortgage loans and recorded transaction prices.

Perhaps the most accurate metric would be the price per square metre of residential property. This data is monitored by the central statistics unit of the Spanish government, which last week revealed that the average cost of a square metre of Spanish property rose 5.6% in the second quarter of this year compared to the second quarter of last year. 

There were higher price increases in some regions compared to others. An encouraging bit of news is that 16 of the 17 autonomous regions of Spain registered increases in property prices. Madrid and Catalonia topped the tables with respective increases of 10.9% and 9.3%. 

At the bottom of the table came Castilla-La Mancha, Murcia, and Extremadura; recording respective gains of 0.8%, 0.3%, and 0.4%. 

The national increase is right in the middle of the prediction of 4 – 7% annual increases made by Spanish banks just last week. It’s also a reflection of the general health of the Spanish property market, which is seeing a steady increase in the amount of sales.

Experts Predict 10 Property Sales Increase of 10% for Spain

The prices continue to increase in Spain

Experts Predict 10 Property Sales Increase of 10% for Spain

Summer is reaching its peak and bringing optimism with it, especially to the Spanish property market, which has already performed excellently this year. 

There is so much positivity and confidence flowing through the Spanish real estate industry that the Spanish bank BBVA has predicted 2017 will see an increase in property sales of 10% compared to last year.

Most notable is that BBVA believes over 500,000 Spanish homes are going to sell during 2017, surpassing the annual threshold that hasn’t been surpassed since before the economic troubles began in 2007.

A performance like this would break the positive forecast put out by the bank at the start of the year – in an upturn created by how well the Spanish economy is recovering on practically all fronts.

BBVA are also expecting a 3% increase in the average national price. The bank stated in their last report that the typical price-per-square metre in 2017 will increase to €1,570, which will bring prices to the same level of 2004. Unlike 2004 however, there is a much bigger regional variation; as prices in places such as the Costa del Sol, Madrid, and Barcelona are expected to be much higher than average.

Official notary data released in May shows that the average price of properties was €1,318 per square metre, which would mean that additional monthly price increases are likely to happen before the country reaches the estimate from the BBVA.

Spain Set for Fifth Consecutive Annual Increase in Tourism

Spain Set for Fifth Consecutive Annual Increase in Tourism 

Tourism continues to break all records 

Spain is set to smash through the tourism figures of last year, which would mean Spain will register five consecutive years of annual increases in visitor numbers according to the latest data from tourism industry group Exceltur. 

The group is forecasting that tourism in 2017 could increase 4.17% over last year, which translates to around 80 million tourists heading to Spain. 

Over 75 million tourists headed to the Spanish sun last year, and Exceltur’s estimate is higher than the current 3.2% estimated increase. The upgrade comes as a result of a better-than-expected spring and Easter season, as well as a fine beginning to the summer season. 

Exceltur commented on their reassessment of Spanish tourism figures, saying that the change came as a result of strong increases in foreign demand. 

Spain has been a perennial favourite destination for summer package holidays, but the growing reputation the country has as a hub for weekend breaks in the city is having a strong impact on the numbers. Cities across the country recorded record numbers of overnight stays during the first half of the year, with some 2.7 million visitors staying overnight in Madrid alone between January and May; an increase of 19% over 2016. 

Barcelona has always been popular of course, but now other cities such as Valencia, Bilbao, Malaga, Cordoba, and Seville are seeing increases in popularity. The Vice President of Eceltur José Luiz Zoreda believes it is the combination of climate, accessibility, and perception of safety – following the recent terror attacks of London, Paris, and Berlin – that makes Spain so popular and attractive to tourists.

A drop in tourism across other countries has seen an increase in Spanish tourism. Exceltur estimates Spain is “borrowing” around 15 million tourists that would otherwise have visited countries such as Egypt, Turkey, Tunisia, and France. 

In terms of nationality, Brits are still the most dominant tourist group, prompting Zoreda to suggest that the “Brexit effect” is something that just isn’t being felt in Spain. The number of American visitors has increased 19%, while there has been a massive increase of 35% in Asian tourists; most of whom come from China.

May Data Shows 5.3% Property Price Increase Across Spain

May Data Shows 5.3% Property Price Increase Across Spain

The Spanish property market continues to grow

The latest figures from the Spanish National Statistics Institute (INE), published just last week, reveal how average property pricesin Spain during May rose 5.3% higher than during May of 2016.

The increase continues the near-two-year trend that prices have risen year-on-year for over 20-months straight.

The latest INE data shows that price increases are actually accelerating, with the average monthly increases topping between 2.5% and 3%. The reason for the sharp increase is mostly down to the price increases seen in Barcelona and Madrid; where prices have risen 8.8% and 10.6% over last year. The two largest cities of Spain are benefiting brilliantly from the strengthening Spanish economy, bringing in great investment into the privateand commercial real estate sectors.

There is more encouraging news as property prices across the 17 autonomous communities of Spain are all up, even though some of the rises – such as those in Extremadura, Murcia, and Galicia aren’t very big.

First quarter data from before May also shows property prices increased 2.3% over the previous quarter, marking the seventh quarterly increase in a row and showing a sharp rise for the small amount of time it happened in.

Property experts and analysts welcome the increases. Even though Spanish property prices are around 40% lower than the peak of 2008, the sustained increases showcase how the post-boom market has begun to reflect true value, offering the banks, mortgage lenders, and homeowners the peace of mind they need.

Spain Records 30% Property Sales Increase in March

Spain Records 30% Property Sales Increase in March

In the past 12 months over 400,000 Spanish homes have tradedhands; 15% more than in the prior 12 months.

The recovery continues which is wonderful for the whole of

spain

The latest data from the Institute of National Statistics (INE) released last week show that March has seen an increase of 30% in transactions year-on-year.

According to the data from the INE, the 40,461 homes changing hands during March in Spain was the highest monthly figured reported since 2011. It would have been the highest since the credit crunch bit in 2008, except the government boosted 2011 sales with a tax break.

2017 has been a record-breaking post-recession year for property transactions so far, with January and February posting sales data that resembles something from before the housing bubble burst.

Putting it all together, some 114,528 Spanish properties were bought and sold in the first three months of 2017; around 15% more than during the first three months of 2016. Extrapolating it across 12 months shows that property sales will reach 419,000 – an increase of 15% over the previous 12 month period.

16 of the 17 autonomous communities of Spain reported increasesin property sales. The only area where sales contracted was the Canary Islands, where sales were down 3.5% compared to last March.

The largest increases were reported in La Rioja, Cantabria, and Asturias; all of which reported growth of over 40%.

Analysing the data from the INE further shows that 110 property transactions occurred for every 100,000 people considered to be of home-buying age. This came up to 150 and 148/100,000 people in Valencia and the Balearics respectively.

Strength of Spanish Economy Shown by Increase in Car Sales and Decrease in Illegal Downloads

Strength of Spanish Economy Shown by Increase in Car Sales and Decrease in Illegal Downloads

There was a time during the credit crunch of 2008-2012 that living in Spain was the hotbed of illegal downloads in Europe. From music and films to unlicensed software, Spaniards who found themselves strapped for cash would use internet services to get their hands on the content they couldn’t afford or just didn’t want to pay for.

Spain wasn’t the only country this trend hit, but it certainly became the leader. Things have changed now, however. As the Spanish economy has picked up, and there are affordable streaming services such as Spotify and Netflix opening their doors, the amount of illegal content downloaded in Spain has tanked.

A survey of over 4,000 Spanish internet users from consultancy firm Gfk shows that piracy has hit a ten-year low in the country. Around half of the people surveyed admitted to still illegally downloading content, saying that they feel they can get anything they want online for free because they pay for their internet connection.

A similar amount of people did say that they would pay for the content if it was cheaper.

The survey suggested that content piracy accounted for around €1.8 billion in lost earnings during 2016. If all the content that was illegally downloaded was paid for legally, then it would have supported 21,000 jobs in Spain alone according to the consultancy firm.

An area of the Spanish economy that is certainly generating jobs is the automotive industry, which kicked off the year to a great start with 7.9% more cars sold in Spain for the first quarter of 2017, compared to the first quarter of 2016.

Car sales – much like property sales – are an accurate sign of how the economy is performing. An increase in sales for cars or homes is always a cause for celebration.

The Spanish Association of Automobiles and Trucks (ANFAC) calculated some 307,911 cars were sold during the first quarter of 2017 in Spain. Malaga topped the charts in Andalucía, with 10,270 new cars sold, followed by Seville with 9,778 cars sold.

New Data Shows Spanish Property Prices to Increase 1.8% in February

New Data Shows Spanish Property Prices to Increase 1.8% in February

Prices continue to surprise everyone as the recovery is in full swing

The strengthening property market of Spain has recorded growth in mortgages and prices, and has been one of the backbones of the increase in job growth over the past few years. The latest data from the valuation company Tinsa shows that average Spanish property prices were up 1.8% in February of this year compared to last year.

There have been 11 monthly price increases over the past 12 months, and Tinsa say that this is the best rise year-on-year, and continues the trend that began all the way back in 2014.

Breaking it down into regions; the Balearics was the region with the deepest property price increases. Average home prices rose 4.4% here. The Canary Islands came in second, with 4%.

It won’t come as much of a surprise that these are the two markets leading the way this time of year. The Canaries are popular all-year round. The interest in tourism and property stays strong during the winter, unlike mainland regions thanks to the climates of places such as Lanzarote, Tenerife, and Fuerteventura.

While the Balearic islands do experience a similar climate to the south of Spain during the winter, property prices are pushed up and above the average due to the difference between supply and demand. The islands are always popular, but they are too small for unrestricted housebuilding.

Back in the mainland, regional capitals – such as Malaga in the Costa del Sol – saw average property price increases of 3% during February, while there was an average increase of 0.9% for the Mediterranean coastal regions since the start of the year.

Tinsa published further data that painted a broad picture of the trends of the Spanish property market, including an increase in building licenses of 28.9% during 2016 compared to 2015, along with mortgage approvals increasing 14.8% over the space of a year.

Unemployment fell by 9.7% in 2016 according to the Tinsa data, which is why home transactions increased 13.8% during 2016 compared to 2015.

Malaga Airport Has Impressive Start to 2017 Thanks to 18.4% Increase in Passengers

Malaga Airport Has Impressive Start to 2017 Thanks to 18.4% Increase in Passengers

Tourism numbers don’t appear to be on the way down at all as 867,382 passengers passed through

Malaga airport last month, marking an increase of 18.4% year-on-year.

Malaga and the Costa del sol continue to break passenger records

This comes after a year of broken records that saw every record in Spain broken time and time again. It looks like 2017 could be another record-breaking year as airports across Spain are reporting an average increase in tourists of 10%.

The latest data from the Spanish airport operator Aena shows that all 18 of the busiest terminals in the country registered a year-on-year increase last month. The largest increase (29.3%) was reported at la Palma, which was followed by Valencia (19.8% increase) and Malaga-Costa del Sol (18.4) – the equivalent of 867,382 passengers. The stats for January 20017 showed there was a total of 7,286 take-offs and landings at the airport, which was an increase of 15.3%.

As expected, the charge was led by the UK, as 245,421 Brits entered/left Malaga during January, an increase of 18.3% over January of 2016. Next were the domestic passengers, followed by the Germans and Dutch tourists, numbering 62,184 and 54,142 respectively.

Its no wonder that Spain and Malaga area is smashing all records due to the low cost of living, great climate and southern spain represents a great place to visit and live.

2016 Saw Increase in Number of British Holidaymakers Heading to Spain, and More are Expected in 2017

2016 Saw Increase in Number of British Holidaymakers Heading to Spain, and More are Expected in 2017

It looks like the relationship between Brits and Spain can survive just about anything; from economic crashes and the f

Spain continues to be one of the most visited

country's in the world

allying pound, to the TV show Benidorm and the Brexit.

The strength of the bond was shown in 2016, as the official data from travel market analysts GfK proves that just under 18 million Brits headed to Spain for their holiday last year. Even though this figure is a record breaking number, it’s expected the record could be broken as early as this year. GfK are reporting that there are already 16% more Brits making early summer holiday bookings compared to last year.

There are a number of reasons behind the never-ending demand; Spain has much warmer and settled weather than the UK; it has cheaper leisure options including food and drink; accommodation is cheaper in Spain; and the Spanish property market is much better value for money than the British one.

There are also some more abstract reasons for this love affair. Success begets success, and it can feel like stepping foot on a Spanish runway for the first time ever is almost a traditional thing for Brits to do. While Brits “might” visit countries such as France, Italy, and the US, Spain is one of those countries that they “must” visit.

Spain has also built up a reputation as being a bit of a safe haven from the terrorism problems found in rival nations in the Mediterranean such as Tunisia, Turkey, and Egypt. This has made the country much more appealing for tourists around the world; particularly the Brits.

The VC of Tourism in the Canary Islands Cristóbal de la Rosa spoke about being pleased with the figures. It was expected that numbers could fall following the Brexit and the drop in value for the pound. However, figures have only risen. There have been some uncertainties, but all they did was strengthen the British need to visit Spain and enjoy a holiday in the country.

All 17 Spanish Regions Record Increase in Property Sales in November

All 17 Spanish Regions Record Increase in Property Sales in November

Spain continues its property recovery

Every one of the 17 autonomous communities in Spain recorded an increase in property sales during November 2016 compared to 2015, according to the latest data from the National Statistics Institute (INE).

While some less-famous Spanish regions had the occasional sales slump, this clean-sweep of November growth shows just how far the Spanish property market has come in 2016. The total rise of properties sold in November was 17.3% higher in 2016 compared to 2015; for a total of 33,806 property transactions.

The pace of the growth varied from region to region. Home sales in the Balearics were up 32.8% over the space of a year, with the Canary Islands experiencing a 26.3% increase and Aragon and Asturias reporting 25% growth.

When looking at the 11 months of 2016 leading up to November, the data from the INE shows an increase of 14.6% in sales activity compared to the same 11 month period in 2015, as some 372,000 homes changed hands.

The data from November is no different from the other months. Outside of the occasional blip, Spanish property sales have increased month-on-month for almost 26 straight months.

This reversal of fortunes is a great sign of just how much confidence there is in the sector – driven by both an increase in domestic demand and the ever-present desire for foreigners looking to have their own second home in the Spanish sun.

Spain set to Increase Minimum Wage 8%

Spain set to Increase Minimum Wage 8%

With the minimum wage rising means that spain is

getting financially stronger

The impact that the Spanish Socialist Party (PSOE) had on Parliament was shown last week when it was announced that the new PP government planned to introduce an 8% rise in minimum wage; which is the largest increase in 30 years for working and living in Spain.

The PSOE relinquished their claim to the government to the PP earlier in the year due to their increased influence on parliament and now they have already won their first major victory as the opposition, putting together a deal for greater financial protection to the poorest Spanish workers.

This increase would lead to an increase in the minimum monthly salary from €655.29 to €707.60, and comes after the pre-election manifesto pledge the PSOE made declaring that they would increase the minimum wage if they were in power.

The party managed to convince the government that there should a deficit target of 0.6% of GDP placed on regional governments, which is likely to free up millions of euros that could be used for social welfare instead.

These policy changes show not just how the PP of Spain will need to collaborative and even acquiesce on certain issues, but also make for an excellent reminder to disheartened PSOE voters that their party is still has the influence to affect matters they care about.

When the PSOE announced they would step aside at the last congressional vote they effectively handed the seat of power to their opposition and it left a rift in the party. Now it looks like the PSOE is eager to show that they still hold some power when it comes to making decisions.

The spokesman for employment issues with the PSOE Rafael Simancas said that the party is ready to get the most out of their strength in parliament, whether through making deals with the current government or grouping together with other opposing parties to create an alternative majority.

There are many people in the party who are against the PP and Spanish Prime Minister Mariano Rajoy, which tells the PSOE that they need to put their money where their mouth is and be the opposition when they need to be. They are also being closely observed by the Podemos party; a fellow left-leaning party with some seats and voting power in Parliament.

Expert Predicts Spanish Real Estate Prices Set for 6% Increase

Expert Predicts Spanish Real Estate Prices Set for 6% Increase

Spain's recover looks to continue its uptrend

One of the key players in the Spanish real estate sector has said that the average property value in Spain will increase between 5 and 6% within the next three years.

Humphrey White is the head of the Spanish division of British real estate agency Knight Frank. White says the strengthened economy of Spain is going to spur on strong and sustainable demand with Spanish buyers , while the country will always be a favourite for international investors looking for a popular place in the sun.

White went on to add that the lack of speculative promotion has really helped the Spanish property market. This has brought about renewed confidence in the sector, along with transparency and sensibility.

The result is that there are areas of Spain where there simply aren’t enough good quality houses to go around. So there is room for banks and real estate developers to take to these areas and increase the supply to meet the new demand.

The agent says that Spain currently has a fantastic opportunity to bring in new companies because it offers them high quality properties in prime locations such as city centres near airports, along with a whole host of qualified professionals.

A recent report from Frank Knight showed that Madrid and Barcelona are in the list of the top 20 destinations for the mega-rich; for both residential properties and investment in commercial real estate.

Data published just last week by the National Statistics Institute showed that the amount of foreign buyers investing in Spanish homes increased just under 20% in 2016; with foreign investors accounting for one-fifth of all the homes sold in Spain.

While Brits have always been the biggest demographic of foreign investors in Spain the data also shows that they aren’t growing as quickly in the third quarter. This drop was made up by an increase in interest from other nations including France, Italy and Sweden. The amount of Russian investors however continues to drop.

Spanish Property Prices Increase at Double the Eurozone Average

Spanish Property Prices Increase at Double the Eurozone Average

Spanish property for sale gives investors a whole lot for their money and the Spanish market as a whole is becoming more stable and attractive each day.

Regardless of Brexit the future is bright the future is Spain

Now the latest data from EU statistics agency Eurostat has shown that property prices across all of the Eurozone have increased on average by around 3% in the last 12 months. Spanish property prices, however, have risen by over double that.

The data from Eurostat shows that the average value of Spanish homes has increased by 6.3% in the year up to the end of the first quarter of 2016. This increase is higher than the increase in almost every other country in the Eurozone.

The Eurostat data would also confirm that property prices have increased now for 8 quarters in a row, with this latest spike of 6.3% being the sharpest rise since the third quarter of 2007. It’s also the biggest average property price increase since 2008 for the entirety of the Eurozone.

The price of property in Spain is still around 32% less than it was during 2008 according to the data. So even though property prices are on the rise, and have been for two years, asking prices are still much lower than they were at the peak of eight years ago.

Many experts are happy with how things look which would suggest that the market is going to slowly correct itself and return to its once former glory through both foreign and domestic demand, banks being sensible about lending, and support from the recovering Spanish economy.

Staying in Eurozone it was Austria who saw the largest increase in property prices in the same amount of time. Property in Austria rose by an average of 13.4% while prices were down 1.2% in Italy and Cyprus.

Rise in Spanish Property Prices Expected to Increase Until 2025

Rise in Spanish Property Prices Expected to Increase Until 2025

Property prices in Spain will continue to rise which is

great news for the Costa del sol

The slump in the Spanish property market lasted a good seven years but things are on the up now, with one market analysis suggesting that prices are set to continue increasing steadily for the next nine years until Spain reaches the peak prices of 2007 once more.

Or so José Luis Suárez, a financial management professor with the IESE business school, claims. He gave a now-widely-quoted symposium over the weekend in which he claimed that Spain will need to build 100,000 new homes each year until 2020, with the demand increasing for the next five years to 140,000.

There are a number of reasons people should be optimistic about the health of the property sector in Spain. While a number of encouraging reports have come out this is by far the most encouraging one. It was between 2007 and 2014 that the demand for property took a sharp downturn with only 75,000 homes built a year, down significantly from the high of 800,000 in 2006. Suárez believes that Spain is headed for a slow but steady recovery now after construction reached an all time low of 50,000 in 2015.

Madrid and the Costa del Sol is currently where the highest demand for new property is. Roughly 25,000 homes are constructed there each year.

Suárez had something to say about the average price per square metre of residential property too. He made the point that the annual rises seen leading up to 2007 were followed by bludgeoning cuts. The price per square metre fell from 2,062 euros in 2007 to around 1,400 euros in 2014. He expects that it will be 2025 when we see the peak price from 2007 once more. It is worth noting however that this figure doesn’t take inflation into account. It’s not an accurate representation of the “real” value.

It his figures prove accurate though it means that Spanish property can expect an appreciation of around 40% in nine years, making investing in Spanish property a smart choice. You should keep in mind that market trends change all the time and are also different from area to area.

5% Increase in Price for Spanish Properties Predicted by CBRE

5% Increase in Price for Spanish Properties Predicted by CBRE

Real estate experts CBRE believe that Spanish house prices could rise by up to five percent on average during 2016. More houses are being sold and built which is bringing up house prices.

CBRE annually release a Real Estate Market Outlook and their most recent one highlights a series of positive indicators for the residential resale housing market in Spain. Their report has found that more homes will be sold and built leading to less unsold properties in Spain over the whole year.

Great news for sellers as prices are expected to rise

The main thing to come out of the report is the expectation that the average house price in Spain will rise by 5.9% on average with a 6.3% peak rise in the third quarter.

CBRE also expect that 20% more properties will be sold in 2016 over last year, putting power behind the claim that the Spanish property market has recovered.

One area of the market that hasn’t seen this increase yet is the new build sector. Even so CBRE are confident that as many as 60,000 new homes could be built in 2016, which would be an increase on the 45,000 homes built in 2015. This is still less than the previous peak of 160,000 homes per year though.

The trends are still positive and point to plenty of growth. Madrid, Barcelona and Costa del Sol property in Andalucía for sale have always been the most prominent parts of the real estate market and this year they will be joined by Bilbao, Valencia, and Malaga as the demand for property has gone up in these cities.

The CBRE does have some warnings though. The main problems are the slightly decreasing population of Spain, a lack of confidence in buyers, and an economy that is still fragile. These should temper the optimism that people feel but this report, when taken with other studies and statistics from Spanish real estate institutes, serve to add to the belief that property in Spain has become a good investment once more. Now is the time to buy or sell your home in Spain as more buyers and investors are fuelling the market.

Spanish Properties prices are increasing  

Spanish Holidays up 27% 2016

The Association of British Travel Agents (ABTA) has released figures showing that there has been a 27% in the number of British booking summer holidays in Spain. Many British tourist are turning their backs on the long haul flight and settling in southern Spain and Costa del Sol .

Costa del Sol

The Foreign Office has warned against travelling to places like Egypt and Tunisia and Turkey has become less desirable due to how close it is to the Syrian crisis. So now British tourists are deciding to play it safe and look a little closer to home for their fun in the sun.

The result is that old traditional favourites such as Spain, Cyprus, Portugal and Malta are seeing increases in bookings. Cities in Spain are ahead of the curve of course with the amount of people booking holidays already having the potential to break records.

The ABTA also revealed that the number of people choosing to travel to Turkey has gone down by a whopping 50%.

Travel Supermarket also released data showing that Spain is the most searched destination for people in Britain. People from other Northern European countries looking for some sun are turning away from places like Turkey, Egypt, and Tunisia. Greece is also becoming steadily less popular and now the Western Mediterranean is seeing a rise in popularity with flights through Spanish airports expected to be at all-time highs.

Tour and flight operators like Thomas Cook have decided to scale back the amount of flights and package deals they have available for the troubled regions. They will now focus these efforts on places people are enjoying the sun and with so many attraction in Southern Spain to choose from like beach holidays with abundance of water sports in Spain, with some much on offer should, hopefully, bring the price of a trip to Spain down.

The Costa del Sol has over 800 kilometres of amazing coast line and some of the nicest beaches in Spain. with an average temperature of over 20C year round, its no wonder why so many tourist flock to Southern Spain and the Costa del Sol.