Property Price Rises Boost Spanish Market

Further evidence has emerged of the continuing recovery in Spanish property prices as figures for the first quarter of 2018 showed a 3.8% increase on the previous year. Growth was strongest in the main cities of Madrid (17%) and Barcelona (11%). It’s a pattern typical for recovering markets where major cities lead the growth followed by other regions as the cycle matures. Potential buyers looking at investing in the Spanish market for the Golden Visa may want to turn their attention away from the main cities to benefit from rock bottom prices in the coastal regions which are expected to benefit now as the economic and housing recovery is fully underway.

Barcelona saw a 39% increase in prices in the last 3 years but the recent calls for Catalan independence have impacted sales volumes significantly. Previously the most popular city for Golden Visa investors such future buyers for residency will be well advised to look elsewhere in Spain. After all it is a Spanish Golden Visa on offer not a Catalan Golden Visa.

Costal regions such as Murcia and the Costa Calida region have seen annual rises of around 2.0% and offer plenty of potential for future growth. Such areas are ideal for investment in the residency visa when families are planning to spend longer periods in the country particularly in the summer time. This area of Spain offers superb value for money and is popular with Spanish buyers from Madrid looking to escape the summer heat to the cooler environment on the coast.