Spanish property market continues to move upwards

The past year's 5.8% rise is the lowest since 1998, but it does show that values are continuing to rise and the much-talked-about crash still isn't happening. That said, experts are predicting that the rises will continue to slow, bringing rising prices for property in Spain closer to the country's inflation figure.

As always, Spain has very distinct internal markets. While the holiday hotspots of Murcia and the Balearic Islands rose above the national average (9.5% and 7.8% respectively, the highest rise was 10%, recorded for Ceuta y Melilla, the tiny Spanish enclaves near Morocco. The provinces along the Costa Verde also recorded above-average rises, but nearby Navarre was way below at just 3%.

Anecdotal evidence from people living on the Costa del Sol suggests that the market there is extremely varied, with some home owners having to drop their prices to make sales and others selling extremely quickly. Wherever you buy property in Spain, the key is always going to be desirability: buy the best-quality home you can afford in the best possible location. If you're buying in a location flooded with average two-bedroom apartments, an average two-bedroom apartment might not cost you as much as a penthouse or a larger two-bedroom apartment with a sea view, but you'll find it significantly harder to rent it out or sell it.

For a typical project in Spain, see: Murcia Golf and Country Club

Courtesy: HomesWorldWide

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