New Villa in Los Alcazares Spain
The price of property in Spain rises by 2.2% in the first quarter of 2017
New homes are up 3.1% (up to 1,781 euro per square meter) while resale homes increase 2.1% (1,517 euro per square meter).
The average price of free housing in Spain stood at 1,528.8 euros per square meter in the first quarter of 2017, a quarterly increase of 0.9% and a year-on-year increase of 2.2%, according to data from the Ministry of Development of Spain. This is the eighth consecutive quarter of nominal price increases.
Fomento explains that the average value per square meter in the first quarter of 2017 was 27.4% lower than that of 2008, when it reached peaks according to the historical series. On the contrary, from its minimum value, in the third quarter of 2014, the price of housing has already recovered by 4.8%.
By typology, the average value of the square meter of free housing up to five years old stood at 1,781.2 euros in the first quarter of the year, representing a year-on-year increase of 3.1%. As for free housing more than five years old, the price reached 1,517.6 euros per square meter, which represents a rise of 2.1% in year-on-year rate. The price of the square meter of protected housing stood at 1,133.5 euros until March, 0.8% more than in the fourth quarter of 2016 and 1.9% above the value of a year earlier .
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