The Sun Continues to Rise Across The Real Estate Sector in Spain for 2017

The average price by square metre for Spain is 1,813 €, an increase of 0.44% compared to 15/01/2016.

Taking from 40,000 properties currently for sale through out Spain, the average price 18/01/2017 is currently €349,840

The areas with the lowest prices in Spain are Rioja and Aragon, with an average price of €70,000 and €109,545, respectively. And the highest average is in the Balearic Islands €796,070

In Andalusia the average price by square metre is 2,121 €, an increase of 0.95% compared to 15/01/2016 with the average price for properties at €390,229 The areas with the lowest average prices are Jaén and Almería, with an average price of €125,970 and €177,783, respectively.

Richard Speigal, head of research at Spanish property portal Kyero, pointed out that house sales in Spain have recorded a 15% rise on the previous year and seen 10 consecutive quarters of growth, which means that the Spanish property market crash has officially ended stating ‘Spain’s market has two unusual advantages. Firstly, it had nowhere to go but up. The 2008 crisis completely shredded the housing market. Secondly, Spain has incredible international appeal and with one in five property sales going to foreigners, it can endure weak local demand,’ he said.

‘British, French, German, Dutch, Belgian, Italian and Swedish buyers are picking up the slack, which has been good news for the wider market and for those involved in selling property in Spain,’ he explained.

He believes that there is still pent up demand from potential British buyers, citing figures that show that overseas searches for Spanish property via Kyero reached all-time highs after the referendum vote in June 2016, up over 50% on 2015. The portal’s largest agents also reported seeing record attendance at UK investor shows.

The increase in demand is underpinned by that in employment and incomes, … The good sales performance is due to the trends in the determinants of demand. During the first half of the year, economic growth was accompanied by job creation. In the first six months of the year, according to data of the National Statistics Institute’s (INE)Labour Force Survey, the number of people with employment increased by approximately 200,000. At the same time, the number of unemployed persons fell by just over 200,000. This improvement in employment is appreciably smaller than that seen in the same period of last year.

Average Prices by region in Spain 2017

Rioja €70,000 

Aragon €109,545 

Estremadura €128,301 

Castile-La Mancha €147,349 

Murcia €157,700 

Asturias €171,258 

Castile and Leon €178,927 

Galicia €214,137 

Navarre €215,000 

Canary Islands €224,081 

Cantabria €230,493 

Valencia €283,356 

Andalusia €390,229 

Basque Country €417,389 

Catalonia €472,102 

Madrid €540,267 

Balearic Islands €796,070