The average price of property in Spain is expected to increase by 6.1% according to the Property Outlook report published recently by the IPE. The National Statistics Institute’s housing price index shows a year-on-year rise of 6.7%, the largest increase since the index was established in 2007.
House prices in Spain have seen four years of consecutive growth and the same pattern is expected to be seen in 2018.
Just ten years ago, property prices in Spain were at their lowest. Prices dropped by up to 50% but in the last four years they have seen growth of more than 20%.
The Spanish economy is currently one of the fastest growing in the EU and the consolidation of the property market in Spain is making the country one of the most attractive places to invest in real estate. Average price rises in the EU and Eurozone are just over 4%. In Q3 of 2017, the top countries enjoyed property price increases of up to 12.3% (Czech Republic) whereas in the worst performing countries, property prices actually fell by almost 1% (Italy).