New build property is leading the recovery in Spain attracting overseas property investors and Spanish nationals alike.
Prices for new properties rose by 3.3 per cent in 2016 according to end of year data from property valuation company ST Tasación. This compares to 2.3 per cent for Spanish property as a whole in 2016 as reported last week.
Madrid and Barcelona led the way as usual with rises of 3.8 and 2.8 per cent respectively, but the good news was that prices actually increased in all of the regional Spanish capitals.
Although the recovery is still being led by the afore mentioned major cities and the Balearic Islands, all regions showed positive growth, albeit some only fractionally.
The nationwide positive growth with no negatiuve areas is further proof that the Spanish property market has indeed turned the corner into positive territory and is likely to only rise from here.
For property investors looking for a bargain, the popular traditional region of Murcia on the south east coast of Spain with its many castles and landmarks still remains the second most affordable area, with an average price of 1,196 euros per square metre. One third the price of Barcelona at £3,518 euros per square metre.
With every Spanish region seeing property now increasing in price, it may be time to buy into the rise and purchase that dream Spanish property you have always wanted.