Spanish Property Market & House Price Rise in 2015
The Spanish Property Market appears to be improving again steadily with house prices rising by 1% in 2015 compared to 2014 according to Tinsa, the leading Spanish property market appraisal company. The increase in prices is great news for both home owners and the property market in general, recording it’s first yearly increase since the recession began back in 2008. House prices for property for sale in Spain experienced the biggest increase in some of the major cities including Madrid and Barcelona seeing a growth of 3.3% and a 5.8% respectively, but there was good news also for the Balearic Islands which saw a 2.7% rise in property prices.
Brits Snapping Up 20% Of The Property Market
Property sales in Spain in 2015 saw around 20% of Brits snapping up the bargain properties on offer while there was also a high number of French buyers making up over 8% of total sales. Other European countries taking advantage of the great property prices in Spain included Germany with around 7.5%, Belgium 6.5%, Sweden 5.5% and the Italians with some 5.3%. 2015 saw a large decrease in Russian buyers with around 4% investing in the Spanish property market in comparison to 8% in 2014.
Spanish Property Prices Set To Increase Further in 2016
Most of the leading property indices and property experts are expecting Spanish property market prices to rise further in 2016 but have advised on caution with being over optimistic. 2015 was a step in the right direction compared to the previous 7 years and indicates that Spain is finally coming out of “la Crisis”. Gonzalo Bernados, a leading Economist professor was quoted in the El Mundo Newspaper that 2016 could see increases of up to 12% on average and up to 20% on property prices in 2016, a view shared by another Spanish property market consultant Jose Luis Ruis Bartolome.