The average price of Spanish property rose by 5.6% year-on-year in the second quarter of the year, according to the Index of Prices (IPV) prepared by INE. With this data, prices have been up 13 consecutive quarters since the second quarter of 2014, leaving behind almost six consecutive years of declines since they began to fall in the second quarter of 2008.
This figure of 5.6% is the highest recorded since the first quarter of 2016 when it reached a rise of 6.3% at the start of that year. These price increases start from the lows registered in 2013, after almost six years of continuous declines, which is why experts talk about normalizing housing prices, according to the National Institute of Statistics (INE) .
By type of property, the average price of second-hand homes rose 5.8% year-on-year in the second quarter, its second highest since the economic recovery after the first quarter of 2016 (6.4%).
Meanwhile, new homes rebounded by 4.4% year-on-year between April and June and moderating increases recorded in previous quarters.
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If you are interested in buying a property in Marbella and you haven’t met a lawyer in Marbella, please contact Mondine Abogados on +34 952 77 34 66 or visit their website for more information or to arrange an consultation. Mondine Abogados, has over thirty years of dedication in Marbella. If you haven’t found your dream property in Marbella yet, please do not hesitate to fill the form on Contact Us or give us a call on +34 952 811 010 Today! At Smart Xcape we are open All day, Every day!<< Spanish taxes that have caught you by surprise