Property values buoyant in Barcelona, but bargains reign in Zaragoza
Friday, February 13, 2015 @ 4:19 PM
HOME prices in Spain are at their highest in parts of Catalunya, Galicia and Mallorca and at their lowest in Almería and Zaragoza, recent sale figures show.
This proves that although property values are the cheapest they have been in nearly a decade, bricks and mortar remain a great long-term investment in Spain as the housing market is gradually becoming more buoyant.
Figures from the European Union statistics office, Eurostat, show that the average home in Spain had gone up 1.3% in value by the end of 2014, having reached their lowest price ever in the first half of the year.
The climb in housing values continues to lag behind the rest of the Eurozone – rising at 0.3% in the third quarter of last year in Spain, compared with an increase of 0.5% in the other single-currency member States – but is heading in the right direction for investors and those who hope to sell their homes in the foreseeable future.
Property prices vary greatly across the country, with a given type of home in one province costing a quarter of an identical house or apartment in another.
As a result, careful scrutiny of the market reveals that everything from rock-bottom prices on spartan, no-frills homes which may need some cosmetic renovations through to luxury villas in élite, sought-after areas can be found depending upon where the buyer searches.
Regional price breakdowns taken from several thousand estate agencies show vast variations, with some far exceeding the national average and comfortably holding their value, and others offering jaw-dropping bargains.
Read more at thinkSPAIN.com