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Property is 2% more expensive and shows it moving upward in its fifth quarter

The average price per square meter of private housing stood at 1506.4 euros in the second quarter of 2016, representing a positive variation of 2% compared to a year ago and 0.9% over the first part of the year according to the Ministry of Public Works of Spain.

This figures upward movement marks the fifth consecutive quarter of nominal price increases following 26 quarters of year declines in housing prices which started in late 2008.

According to the historical statistics, the average value per square meter in the second quarter of 2016 is 28.3% lower than the peak in the first quarter of 2008. On the other hand, from the minimum value reached in the third quarter of 2014 the price has rebounded 3.5%.

The second hand market more than the new

By the age of the property, the newest average price per square meter of private housing up to five years old, stood at 1746.8 euros in the second quarter of 2016. This represents a growth of 0.8 %. As for property over five years old, second-hand, the price reached 1,500.2 euros per meter, up 2.2%.

Unequal growth by regions.

For communities, development found that 10 of them present inter-annual growth, highlighting the Balearic Islands (5.9%), Madrid (4.8%), Catalonia (4.6%), Canary Islands (2.9%), Extremadura (2, 4%), Ceuta and Melilla (2.3%) and Galicia (1.4%). By contrast, other regions still show declines, highlighting Navarra (-2.2%), Aragon (-1.9%), Basque Country (-1.7%) and Cantabria (-1.3%).

Golf Sun Spanish Properties helps you find new build properties for sale in Ciudad Quesada and other areas in Orihuela Costa.

If you are looking for newly built homes on the Costa Blanca and the Costa Calida, you are in the right place. Golf Sun Spanish Properties works with the best urban developers to offer the best villas, apartments, townhouses and bungalows in the region. Contact us today, tell us what you're looking for and we can get to work to find the house that best suits your needs.

Call us on 0034 965 322 863 or email us

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