Spanish property prices and mortgage valuations continue to climb

A reliable barometer for how property in Sotogrande is likely to be faring is the situation for property in Spain as a whole – and on that score, it seems there’s plenty to reassure those who have just purchased a home in the locality, or who are considering doing so.

An encouraging picture for everyone interested in property in Spain

The Spanish government’s central statistics unit has revealed that there was a 2.6% rise in the market value of housing in the second quarter compared to the first few months of the year. This also represents a 6.8% rise on the equivalent figure a year ago.

It means that over the last four years, there has been a 23.9% increase in the national property index, which demonstrates an emphatic recovery for the Spanish property market since the lows of the early 2010s in the aftermath of the late 2000s economic crash.

Such a conclusion is supported further by the fact that the number of property valuations undertaken for mortgage purposes has also gone up, by 10.25% in the first half of 2018. These figures were disclosed by the Spanish Value Analysis Association (AEV), members of which performed about 223,700 valuations between January and June.

AEV general secretary Paloma Arnaiz hailed the data as a reflection of the “sustained recovery of the mortgage market” and the real-estate sector’s all-round dynamism in Spain.

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