The revival of Spain’s property market has been confirmed by continued transaction and price growth. Experts largely agree that the country’s real estate is back on track but there are still obstacles to be overcome.
Geographical disparities on a regional level and the lack of new-builds in popular destinations are some determining factors for the future, as Spain regains popularity with foreign buyers.
Key Points:
6.62% average price growth
Barcelona is the most expensive local real estate market
Over 75% of all sales were for existing property
British buyers make up 20% of all foreign property purchases
The average price per square metre in Spain was €1,619 in December 2015 and prices grew 6.62% by Q3 2015 year-on-year.
However, Spain’s two-speed housing market has left many regions in the dust and profited but a small few. The country’s top two local markets in terms of prices and transactions are Madrid and Barcelona.
There is confidence that the property market will continue to improve thanks to consumer-friendly lending terms and rising violence in more recent tourist hotspots like Turkey.
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