There is a growing demand for homes in Spain from domestic and foreign buyers, which is all adding to the success of the Spanish property market.
This is good property news despite Spanish property prices falling a little.
The Spanish housing market’s recovery stage is being strengthened by activity like this.
According to the Notaries Association in Spain, their latest figures demonstrate sales going up by 19.5% in March compared to the same month in 2016. This means that more people are buying Spanish property and the demand is heightening at a quite a fast rate.
New builds, on the other hand, are not doing so well. There are so many unfinished properties as well as properties that are not even being built that it is putting a strain on the market.
Sales of new builds have been down by 11.5% so far this year. Spanish property apartment sales have been up by 20.5% and family homes up by 15.6%. The overall prices of Spanish property have plummeted by 1.3% to €1,277 per square metre, which may have been down to the drop of 6.2% in the price of single-family homes of -6.2%.
Despite the demand for Spanish property being high, there is still a concern in relation to the average price of a house dropping. The figures that have come from the Notaries does not clearly outline the different variables that may have affected this outcome, for example, with price surges in popular markets like Barcelona and the Balearics.
It is also important to stay mindful of the fact that new builds being built has slowed down and this doesn’t seem healthy for attracting lots of new investors and tourists to the country.
Despite this property news, though, Spain remains a popular country to invest in among country citizens and international visitors/investors. It is a beautiful country with impressive prices, stunning scenery and all-year-round lovely weather. After all, Spanish property is so gorgeous and inviting!
What is there not to love about Spain real estate and the country itself?
Written by Gemma Smith