Property prices in Spain went up again over the past year

Property prices in Spain went up again over the past year

If there’s one sure reason to snap up property in Sotogrande now rather than later, it’s that your dream house, villa or apartment in this exclusive development may not be as affordable as it is now for much longer.

Indeed, according to figures recently released by the premier Spanish property valuation specialists Tinsa, residential property across the country was an average of 3.6% pricier in January than it had been a year earlier.

A sustained upward trend

Such a steady increase continues the pattern that has been established in the Spanish property market for a while now. Indeed, Tinsa observed rises in all of the market categories that it monitors, including provincial capitals and large cities, the Balearic and Canary Islands and “metropolitan areas”.

There was a 3% increase, for instance, in the average prices of properties along the Mediterranean coast, which would include Sotogrande.

Tinsa noted that such rises have brought Spain’s average property values back to their June 2013 levels, with prices having gone up by 7.6% since they bottomed out. However, given the considerable scope for property prices in the country to keep on rising before they come near their late 2007 peak, it makes sense to enquire now about any properties on which you have your eye.

Plenty of other positive indicators

As if the above wasn’t enough to show that the Spanish property market is decidedly warming up, there are a lot of other recent figures that back up such a conclusion.

They include the 20% year-on-year rise in sales shown by the latest monthly data for November, as well as the 11.1% annual boost in building licences – again, as of November 2017.

Prospective buyers of property in Sotogrande may also be interested in learning of the 11.1% increase in mortgages granted over the first 11 months of last year.

Even the Euribor – the interest rate that provides the basis for most Spanish mortgage repayment calculations – is presently at -0.189%, with this figure being the average for December. It is also the equal-lowest level at which Euribor has ever been set.

Join forces with the premier Sotogrande property portal

Such conditions all lend themselves to continued growth in housing prices and market activity in Spain, and one can bet that the situation will be no different in Sotogrande throughout 2018.

So, why not peruse the most interesting listings for property in Sotogrande on the Property Sotogrande website right now?

Such listings are kept regularly updated, so you can be assured of always seeing the latest opportunities to purchase local houses, villas and apartments when you use our online portal.