Growing like a leap: property prices in Spain are rising every day

No crises are able to force successful people to abandon their dream - a beautiful, cozy house in a sunny country of emotions and enjoyment. As early as 2017, experts predicted a steady increase in the prices of rent and purchase of square meters in Spanish cities. Their predictions were justified: every month the cost of housing rises, despite political upheavals and popular unrest. And if cottages in the resort area are most often purchased by wealthy foreigners, then local residents prefer to buy apartments in quieter places, far from the sea coast.

Growing like a leap: property prices in Spain are rising every day

Figures and details

In 2017 the Institute of Entrepreneurial Practice predicted a high level of price increase - up to 10% by the end of next year. The basic rates were made for Madrid and the surrounding area (raising to 12 percent per year). But Catalan excitement, the echoes of which are audible to this day, have caused the decline of interest of buyers, so here the price increase should not exceed 4-5%.

What do we see by April 2018? On average, the secondary housing market has already increased the cost of housing by 0.7 percent. Now the average price of 1 sq. M. In Spain is 1632 euros. If we compare these data with the previous one, similar to the spring period, the increase in value was more than seven percent. In addition to the capital, positive dynamics have been noticed in Castile and Leone, in the resort Canary Islands and popular among the guests of the country of Andalusia. Accordingly, statistics on construction are also increasing. According to preliminary data of experts, by the end of 2018, about 60,000 new homes will be brought to the market. The most expensive housing is sold in Madrid (2,700 euro / sq.) And Gipuzkoa (roughly the same figures). If you plan to acquire a secondary real estate in Spain with minimal financial losses, you can see offers in Toledo and Aviles. Here for a square meter you will be asked from 780 euros.

Growing like a leap: property prices in Spain are rising every day

Prospects and consequences

Despite the fact that the shock wave of the economic crisis has recently swept the country, the well-being of the residents is gradually stabilizing. So, if the unemployment rate was more than 20% a couple of years ago, now this figure has dropped to 17%. Accordingly, the indigenous Spaniards are trying to invest their savings in a profitable and reliable real estate, which undoubtedly affects the price movement. Housing in sunny Spain is in demand among many newcomers Ukrainians, Russians, Belarusians, Kazakhs and representatives of other nationalities. Here they like not only to spend time on the seaside, but also to increase their income through the development of small and medium-sized businesses. For those who are unable to immediately pay a tidy sum, it provides profitable mortgage lending on affordable terms. So, over the previous year, banks have released more than a thousand housing loans, the average amount of each of which was from 120,000 euros.