Blog Post 11/11/2019
3.1% increase in Spanish property values a reassuring indication of market stability
Recent figures in relation to the Spanish property market have suggested that after a sustained period of price and sales increases, the nation is now seeing more stability with regard to both of these key measures. However, it’s also arguable that we should not see this as a bad thing.
The valuation firm Tinsa, for example, has just released monthly data indicating that October saw Spanish property prices go up by a relatively modest 3.1% on a year-on-year basis.
What do the latest figures tell us?
Other Tinsa findings also point to a Spanish property market that is stable rather than volatile – such as the fact that building licences have only gone up by 8.3% over the first eight months of 2019, while the number of mortgages granted increased by 5.8% during the same period.
We have also, however, recently seen new figures released by Spanish notaries, although these largely paint the same picture as Tinsa’s figures. The provisional number of residential property sales recorded for September 2019, for instance, is exactly the same as that for September 2018, at 42,538.
Reasons for Sotogrande property-hunters to be optimistic
While the overall impression is certainly a more muted one for the Spanish property market than we have seen in recent months and years – including the first few months of 2019 – it should not exactly be a negative one for many of those interested in investing in property in Sotogrande.
Sotogrande, after all, is one of the most prestigious corners of Andalucía for those seeking out luxurious and desirable property, together with a rewarding lifestyle.
The community is seen as something of a playground for royals, politicians and footballers, with the likes of the Duchess of York, former British Prime Minister Tony Blair and England football legend Glenn Hoddle making appearances here.
In short, if there’s any part of Spain that you can depend on to continue delivering worthwhile rises in value for any property you purchase here, it is Sotogrande.
And whatever happens, the situation for the broader Spanish property market remains infinitely rosier than the one of just five to 10 years ago, the 100,000 sales per month that were being recorded in 2007 having fallen to below 30,000 in 2013, prior to the resurgence of the last few years.
Act now to realise your dream of owning property in Sotogrande
Indeed, if there was ever a ‘safe’ time to purchase property in Sotogrande, it is surely now, at a time when prices and demand are not sufficiently volatile to raise fears of any ‘boom or bust’ effect like that we saw in Spain a mere decade or so ago.
So, now might just be the perfect moment to get in on the Sotogrande property market action, with strong prospects of continued future increases in the value of your investment.
Call or email the BM Sotogrande team now, and we will work closely with you to source your dream property in Sotogrande that also makes the greatest sense for your practical and budgetary requirements.