Spanish House Price Rise

Fulfilling that dream of owning a home on the Costa del Sol feels good once again as an investment. That long awaiting return to a poperty market with tales of growth in terms of more sales, growing numbers of new building permits and increasing house prices has finally arrived. House prices in the second quarter rose 0.8 per cent compared with the same period in 2013.

Some interesting stats:

• House prices have risen for the first time in 6 years
• 20.6% more building licences granted by the College of Technical Architects
• 29% increase on new mortgages signed in 2014, compared with 2013
• 0.8% House price increase in 2nd Quarter, compared with 2013

Construction has traditionally been a major contributor to the economony in Spain and the facts above are indicators that financial recovery is on it´s way. This is further supported by rising employment and stabilising of the banking industry.  The Bank of Spain predicts that GDP will rise 1.3% in 2014 and 2% in 2015.

The above plus over 320 days of sunshine annually on the Costa del Sol makes this the destination of choice for people from northern Europe.