Spanish property market continues to grow stronger

In 2018, Spanish house prices rose by almost 6.50% to €1,493 per square metre. That is the biggest annual rise since 2006, according to TINSA. The increase in price and number of sales/transactions was mainly driven by buyers from Britain, France, Germany, Belgium, Italy and Sweden.

The outlook for Spain’s property market during the rest of 2019 and 2020 is positive. Sales are expected to increase from about 500,000 units (2018) to around 650,000 in 2019, and the nationwide house prices are believed to increase by between 5% and 7% during 2019.

The Spanish economy continues to remains robust, despite a slowdown in many other parts of Europe. This is noticed by the fact that construction activity is really picking up again. During the first half of 2018, the number of residential building permits increased by almost 8%.

Source: Global Property Guide & TINSA