Spanish Property Prices Continue To Rise According To New Report
Published: 15th September 2016
New figures released by the National Statistics Institute have reported that the price of property in Spain increased by almost 4% year on year in the second quarter of 2016. The new new figure of 3.9% represents a decrease of 2.3% when viewed in relation to similar figures for the first quarter of the year. On a positive note however for the Spanish property market, the new figures represent the ninth consecutive quarterly increase, suggesting a longer term positive trend for the Spanish property sector as a whole.
Further inspection into the figures showed differences between the prices of new property in Spain (increase of 6.1% for the quarter), in relation to that of second hand property, which rose by just 3.2% for the quarter.
Overall, sentiment is positive within the Spanish real estate sector, and we have seen strong demand from investors outside of Spain looking to purchase throughout the popular destinations within Marbella and Alicante. In particular, the demand for new build developments in the popular areas surrounding Estepona have resulted in bouyant figures from the increased tourism throughout the summer.