Spanish House Prices on the Rise

Everyone around Europe knows that Spain was hit hard by the recession, and that for a while Spanish property prices were at rock bottom. In fact, for a while, it was possible to move to Spain for next to nothing – something that a huge number of British expats managed to do. But these house prices couldn’t stay low forever, and now the Spanish property market has started to pick up again – the first bit of good housing news Spain has had for a long while!

spanish-house-prices on the Rise

spanish-house-prices on the Rise

The last time the Spanish property market rose in price was 2008, so the news that between the third and fourth quarters home prices rose by 0.5% in Spain will come as welcome news to many. After all, increasing home prices point to a strengthening economy, which can only be a good thing for anyone living in Spain. The prices are, however, still 37% lower than they were at their peak, so they still have a long way to go…

Of course, this 0.5% figure doesn’t represent the whole of Spain though, so what are the individual figures for the more popular expat locations? Current property owners in Alicante will be happy, as the prices here rose by 2.1% — the highest in the country – while expats in the Costa Brava will have seen home prices rise by 0.9%. It’s not all great news though, as expats with properties in the Costa del Sol still saw prices go down by 0.7%, while those in Tenerife saw them fall by 0.5%. The reasons why these disparities have occurred is unclear, although they will more than likely even up in the coming months.

Another sign that the Spanish property market is on the up is the fact that the number of building permits has increased by 2%, therefore showing that developers are now getting more confident that they can sell any new houses they construct for a decent profit. Previously developers had known that the market was completely unprofitable, meaning that building permits had declined for the past seven years.

But what does this rise in prices mean for those thinking about moving to Spain? Well, the recent increase in prices is not a massive one, so it should not prevent anyone from making the move. If, however, the prices continue to rise as predicted, this will start to price some people out of the Spanish property market – so it is vitally important that those thinking of moving to Spain act quickly. There’s no point risking your dream move by stalling for a few more months! This is especially true as there are still a large number of Spanish properties for sale on various websites, so finding the perfect home should not be too tough.

If you decide that you are going to act now and make the move to Spain, why not call Matthew James Removals Spain today? We have the experience and expertise needed to make sure your move to any part of Spain goes smoothly. What’s more, we’ll also be able to help with various other aspects of your move, such as planning and storage.

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