Spain records sharp rise in residential property sales
Residential property prices rise by
11.7% in Alicante Province
2017 Q1 Spanish property market report
The latest data released by Tinsa, Spain's leading property valuation firm, concludes that the average price of residential housing nationwide in Spain showed an annual 1.8% increase in value for the first quarter of 2017 compared to the same period last year.
Regionally however the figures tell a different story, and locally the Province of Alicante registered prices 11.7% higher than the first quarter of 2016. Only Barcelona marked a higher increase in value at an annual 12.1% increase in property prices.
Property Investor Today also report that Spain is experiencing a sharp rise in residential property sales, and the most recent data from the Association of Spanish Notaries highlight that in January the number of properties sold increased by 16.8% compared to the same period last year.
Meanwhile, reported annual house price growth in the UK appears to continue an upward trend. Behind the headlines however, the UK property market is beginning a downturn.
Property experts Zoopla reported earlier this month that whilst property prices were higher now than last year, the first quarter of 2017 saw the real value of property slide for the first time in nearly two years, losing some £29 billion nationwide in just three months.
Wales was the only nation to buck the trend with a nominal 0.4 per cent rise, while England saw the worst performance.
With the continued robust stability in the Spanish property market particularly across the Costa Blanca, and an uncertain outlook for UK bricks and mortar, investing in property in Spain during 2017 looks to be a better choice than ever before.
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Please note: Inmo Investments is a registered Real Estate agency in Spain. We are not legally qualified solicitors, nor are we qualified to provide legal or financial advice, and this editorial publication is provided for information only based on existing publicly available information. We have taken every reasonable precaution to ensure the accuracy of the information, and the authority of the sources of information at the date of publication.
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