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Average property prices rose 0.62% in August and almost 7% in the last year
These latest figures on average house prices, supplied by pisos.com, suggest that continued high demand for property in Spain is playing a key role in raising the monthly average value of Spanish homes.
The most expensive autonomous communities to buy a property in Spain this August were the Balearic Islands (4,150 euros per square metre), Madrid (3,524 euros/m2) and the Basque Country (3,001 euros/m2).
The cheapest were Extremadura (820 euros/m2), Castilla-La Mancha (870 euros/m2) and Castilla y León (1,199 euros/m2).
Despite the fact that the granting of mortgages by Spanish banks has cooled off recently, the housing market in Spain is going full steam ahead. Prices are also rising due to the slow progress of new build developments, which are being hampered by a rise in the cost of construction materials.
Given this strong demand for property in Spain, coupled with a low level of new-build supply, it seems unlikely that house prices will drop any time soon.
For help buying or selling a home in Spain, contact British-run real estate company Girasol Homes:
Girasol Homes are Specialist Property Finders in Spain and Portugal, serving clients globally to help them find their dream home in the sun.
Established in 2007, Girasol Homes have won awards for their property-finding expertise in Spain and Portugal.
In their own words, their mission is “to provide you the very best service and to achieve your dream of buying your ideal property in Spain or Portugal – safely, quickly, for the best price and with clarity.”
Girasol Homes specialise in finding the best new build offers in Alicante, Granada and Huelva, where they have excellent staff, but they can also help you get the best property for you in the best locations around Spain and Portugal.
They also have area associates and partners in Huelva province, the Costa del Sol region of Spain and also property for sale in La Romana, an exclusive inland region of Spain.
If you need help finding a property, you can contact them now or use their FREE property finder service today.