New data shows that Spain’s property market recovery is continuing to get stronger and stronger, with prices now starting to rise throughout the country.
A report published this week by financial advice firm Arcano, reveals that residential property prices in Spain rose by 6.9 per cent between the end of the first quarter of 2015 to the equivalent period of 2016, with price rises recorded throughout the country’s 17 regions.
What’s more, the Arcano data forecasts that prices are likely to grow further throughout the rest of 2016. The firm believes that foreign interest in Spanish property is returning to close to the levels seen prior to the financial crash of the late noughties and that this will help national average property prices to increase by around 10 per cent by the end of this year.
A significant fall in unemployment, a slight rise in average salaries and record-low mortgage rates (interest rates start from as low as 2.38 per cent currently) are also factors that Aracno believe will favour the recovery of property values over the coming months.
Article by David Fuller