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Home values rose at 'fastest rate in 10 years' in late 2018
14 January 2019 @ 13:06

HOME prices in Spain are rising at the fastest rate in a decade, according to a leading quantity surveyor – although they still remain far more affordable than at the height of the housing boom in 2007.

According to figures by valuers Tinsa, the average residential property rose in price by 5.8% in the final quarter of 2018 – the highest increase seen per three-month period since 2007, a time when a typical home in Spain was worth €2,044 per square metre.

Prices are lower now by around a third – at €1,337 per square metre – although regional variations are vast, with per-square-metre prices differing by several hundred per cent just a few streets apart.

Home values reached rock bottom in the first quarter of 2015, Tinsa reveals, but have since gone up by an average of 11.7% and are now worth around the same as in the first three months of 2013.

Although 11 provinces in Spain registered a drop in price year on year between the final quarter of 2017 and that of 2018, these falls were in general less than 5%.

Madrid has seen the greatest percentage increase in the last quarter, at 10.8%, followed by the Comunidad Valenciana at 7.8%, Asturias and Castilla y León at 7.4%, and Aragón at 7.3%.

And the Greater Madrid region also boasts the highest prices in Spain as at the end of 2018, although these vary across towns and, in the capital itself, across neighbourhoods.

Read more at thihkSPAIN.com

 



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