Property Prices in Spain in the last 20 years

Evolution of Spanish property prices since 1995

Spanish property prices have evolved significantly over the last twenty years. Although they’ve gone up from 1995 to 2007, they went through a strong decrease until 2014 before bouncing back.

Foreign buyers keep investing

Why do foreign buyers keep investing in Spain more than in any other European country ? Why has the demand from international buyers grown in the past 5 years, quarter after quarter, to reach more than 9 billion euros worth of transaction last year ?

Part of the answer is that Spain is a safe and sound investment. Let’s have a look at the evolution of square meter in Spain in the last 20 years:

Source: article published on ElPais (leading Spanish media).

Spanish property prices: from 670€ to 1540€ per square meter

Over the last 22 years, the average price of a square meter in Spain has gone from 670€ to 1540€, a progression of 129%. The price decrease from 2007 to 2012 was temporary, due to the global economic crisis that had prolonged negative consequences on the Spanish property market.

Spanish crisis: -40% on real estate prices between 2007 and 2015

In fact, across the country, property prices on average lost around 40% of their value between the end of 2007 and the third quarter of 2015. This was the consequence mostly of an increase in unemployment combined with a banking crisis, that affected the downpayment required from potential property buyers.

Examples of home prices in Spain

According to TransferWise, a leader in foreign exchange:

“Some of the most expensive properties in the country can be found in Barcelona, with Madrid city centre prices falling a shade below this. However, if you want to live in the capital on a budget, you can decrease your housing costs considerably by looking to the suburbs instead of the city centre. In other areas of the country, such as the coastal regions, the wide variety of different housing on offer means you can find something to fit pretty much any budget.”

TransferWise

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Thanks for reading my latest article on foreign buyers in Spain. For more information about foreign buyers in Spain please consult https://foreignbuyerswatch.com/category/foreign-buyers-in-spain/. For more information about how to build a strong international marketing strategy for your agency or franchise network, simply email me at reiser@listglobally.com