! Murcia Today – House Prices Continue To Rise In Spain

4 Min Read

Date Published: 08/09/2023


Average property prices rose 0.62% in August and almost 7% in the last year

House prices continue to rise in Spain
The average price of a used property in Spain this August 2023 stood at 2,084 euros per square metre, which is an increase of 0.62% compared to July and an increase of 6.83% on last year.


These latest figures on average house prices, supplied by pisos.com, suggest that continued high demand for property in Spain is playing a key role in raising the monthly average value of Spanish homes.


The most expensive autonomous communities to buy a property in Spain this August were the Balearic Islands (4,150 euros per square metre), Madrid (3,524 euros/m2) and the Basque Country (3,001 euros/m2).


The cheapest were Extremadura (820 euros/m2), Castilla-La Mancha (870 euros/m2) and Castilla y León (1,199 euros/m2).


Year-on-year, the most striking increases in house prices were in the Balearic Islands (+16.89%), the Canary Islands (+13.13%) and the Valencian Community (+12.35%). In terms of Spanish provinces, the largest increases from one year to the next were in Malaga (+17.96%), the Balearic Islands (+16.89%) and Santa Cruz de Tenerife (+16.29%). The sharpest decreases, on the other hand, were in Ourense (-5.27%), Zamora (-4.63%) and Toledo (-4.09%).


Despite the fact that the granting of mortgages by Spanish banks has cooled off recently, the housing market in Spain is going full steam ahead. Prices are also rising due to the slow progress of new build developments, which are being hampered by a rise in the cost of construction materials.


Given this strong demand for property in Spain, coupled with a low level of new-build supply, it seems unlikely that house prices will drop any time soon.


For help buying or selling a home in Spain, contact British-run real estate company Girasol Homes:


Girasol Homes specialist property finders in Spain and Portugal

Girasol Homes are Specialist Property Finders in Spain and Portugal, serving clients globally to help them find their dream home in the sun.


Established in 2007, Girasol Homes have won awards for their property-finding expertise in Spain and Portugal.


In their own words, their mission is “to provide you the very best service and to achieve your dream of buying your ideal property in Spain or Portugal – safely, quickly, for the best price and with clarity.”


Girasol Homes specialist property finders in Spain and PortugalWith a huge list of properties available to buy or rent, Girasol Homes are the first choice for many people searching for property in the Mediterranean.


Girasol Homes specialise in finding the best new build offers in Alicante, Granada and Huelva, where they have excellent staff, but they can also help you get the best property for you in the best locations around Spain and Portugal.


They also have area associates and partners in Huelva province, the Costa del Sol region of Spain and also property for sale in La Romana, an exclusive inland region of Spain.


If you need help finding a property, you can contact them now or use their FREE property finder service today.

Source link

Share This Article
Leave a comment