# property prices in Spain



## suiko (Dec 7, 2015)

As may of us know, agents are all saying that the slump is over and houses are selling like hot cakes and prices are on the rise. It seems from another thread (the Axarquía one) that not everyone agrees.

With the referendum looming, there is obviously lots of currency fluctuation which must be negatively affecting other buyers as it is affecting me. As the increasingly probable British vote for economic suicide is very likely to lead to an end to reciprocal healthcare arrangements which enable many less rich Brits to stay in Spain as they get older, this must surely be another factor creating instability at the moment. This may, of course, lead in the medium term to a steep downturn in the market should Britain vote to leave and many expats are obliged to move back to the UK.

That's how I read it, anyway. I'm interested as to what people actually living in Spain think!


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## tonymar (Jan 29, 2015)

Property still seems cheap in our area and still quite slow to sell !

Yes I think most people who live here are a little worried what will happen if the UK leaves the EU

Will Spain invent a new tax for us to continue living here ? lets face they did think of taxing the sun for solar energy !

who knows !

Tony


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## Elyles (Aug 30, 2012)

Prices here are still high with the area not taking much of a hit.


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## Overandout (Nov 10, 2012)

European political instability and associated currency fluctuations have very little effect on the Spanish property market becasue most prospective purchasors are Spanish and earn their income in Spain.

You are looking at the market as a foreign investor, but you (as a group) are relatively insignificant in influencing the market trend over all.

I have been watching properties and prices in Madrid since end of last year and I can assure you that asking prices per m2 are rising (can't tell you about selling prices) and that propoerties are selling quicker than they were even a few months ago.


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## suiko (Dec 7, 2015)

I don't think I agree, simply because you're basing your view on Madrid. I don't doubt you're right where the vast majority of buyers are Spanish, and would never have suggested otherwise. But where I'm buying is a small village in the sierra, and most people buying are "guiris" (and mostly Brits). There just aren't too many Spaniards that want houses in small Andalusian mountain villages


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## Lynn R (Feb 21, 2014)

suiko said:


> I don't think I agree, simply because you're basing your view on Madrid. I don't doubt you're right where the vast majority of buyers are Spanish, and would never have suggested otherwise. But where I'm buying is a small village in the sierra, and most people buying are "guiris" (and mostly Brits). There just aren't too many Spaniards that want houses in small Andalusian mountain villages


But that's where it's pointless to talk about "property prices in Spain" when things can be so different in different areas. I live in a large town near the coast in La Axarquia and only just over 1% of residents are British. 

On a national level, foreign buyers of all nationalities accounted for 14.5% of property sales in Spain as a whole last year, and 20% of that 14.5% were British, so not really a huge number (can somebody else please do the maths as to how many that represents as a percentage of the whole?).


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## suiko (Dec 7, 2015)

Sure. But in certain areas it's a lot more than that (and in many others a lot less). And those are the areas I'm interested in. I see what you mean, but it would have been a rather long-winded thread title!


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## Elyles (Aug 30, 2012)

For example, most buyers in this area are from país Basco


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## suiko (Dec 7, 2015)

Is there still that great wine shop in Jaca, with walls about a metre thick? That was where I first discovered Viña Tondonia, soooo many years ago  Jaca is about as different as you can get to where I am though, which just goes to show... I guess they have mountains in common


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## xabiaxica (Jun 23, 2009)

Lynn R said:


> But that's where it's pointless to talk about "property prices in Spain" when things can be so different in different areas. I live in a large town near the coast in La Axarquia and only just over 1% of residents are British.
> 
> On a national level, foreign buyers of all nationalities accounted for 14.5% of property sales in Spain as a whole last year, and 20% of that 14.5% were British, so not really a huge number (can somebody else please do the maths as to how many that represents as a percentage of the whole?).


Under 3% if my maths hasn't let me down. Not many in the scheme of things.

And so many go on about how the Spanish economy would collapse (further, if that's possible) if Brits stopped buying property in Spain


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## 90199 (Mar 21, 2010)

The property market here died a long time ago, most of the brits left years ago. The few that remain, apart from us, are dual nationals.


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## Lolito (Aug 25, 2012)

Here in this area, things are pretty much the same as always, all very slow, prices even going down slowly. Most British we knew, they have sold their properties and gone back to UK.


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## Alcalaina (Aug 6, 2010)

suiko said:


> I don't think I agree, simply because you're basing your view on Madrid. I don't doubt you're right where the vast majority of buyers are Spanish, and would never have suggested otherwise. But where I'm buying is a small village in the sierra, and most people buying are "guiris" (and mostly Brits). There just aren't too many Spaniards that want houses in small Andalusian mountain villages


I live in an Andalusian pueblo, and yes, the majority of buyers are from northern Europe. But the absolute numbers are very low, maybe three or four sales a year, and prices are still falling, because families have stopped holding out for the asking price and are willing to take a much lower amount out of desperation.

The Spanish who do buy here, mainly young couples who grew up in the town, want new properties which they can pick up very cheaply as they are nearly all bank repos.


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## suiko (Dec 7, 2015)

Hmmm. I'm not suggesting anything of the sort  I'm just asking about the possible localised effect in villlages where many (or most) purchasers of certain types of houses are Brits. And there are quite a lot of them!


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## suiko (Dec 7, 2015)

The other thing I'm wondering about is whether, if possible (which it may be), to fix the price now in pounds in advance of the referendum. The exchange rate now is bad, but in the event of Brexit it could get a whole lot worse, and fast. Which might actually mean I would be priced out altogether. Alternatively, should sanity prevail, the pound will probably go up to 1.30 or so, but more gradually.


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## cortina61 (Apr 26, 2016)

Hi
As someone contemplating Spain as an alternative to where we are now in Turkey, can you tell me the main reason why a lot of ex pats have left please 

Sent from my LG-H815 using Tapatalk


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## xabiaxica (Jun 23, 2009)

cortina61 said:


> Hi
> As someone contemplating Spain as an alternative to where we are now in Turkey, can you tell me the main reason why a lot of ex pats have left please
> 
> Sent from my LG-H815 using Tapatalk


Older people have often left because they miss family, so return 'home', or perhaps for health reasons because they feel more comfortable in their own language 

Those I know of working age who have left, have done so because they can't get work here, or have maybe tried to build a business & lost everything. 

Some of course are successful, but you asked why people left.


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## cortina61 (Apr 26, 2016)

Thank you, very similar here, many go back when grandchildren come along. The work thing doesnt come into it because its pretty much impossible to work or start a business.
Healthcare here is superb with excellent translators but some just dont get health insurance over 65 and come unstuck and go back.
Thank you. 
Its all looking quite tempting. Never thought i would consider leaving Turkey but its changing so much.

Sent from my LG-H815 using Tapatalk


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## nosreme (May 16, 2016)

Thank goodness I saw this post. I'm actually on the verge of buying a new property in Costa del Sol, specifically in Marbella.

I'm now searching for a lot of agencies and real estate companies that offers the least price, or something negotiably in terms of payment. So, I've got this real estate company Marbella Property CO I've checked. Called them and said they can they can mark down a bit...

So, was actually checking on this lot which is the current cheapest they've got -- it is around 54k euros and it's also fairly small, just 50 sqm but that's good enough for me. Got separated so living along for the mean time is my best option. I'd prefer to invest and buy rather than rent, since in my opinion, I can simply resell it if there is no future for me here.

Do you have anything to say about this? If you have any other source that can somewhat offer a far cheaper price, I'd love to hear it. Please do send me a message if you have anything at all that ranges 40k - 55k. I still want to live comfortably so any lesser might compromise that. Thanks


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## suiko (Dec 7, 2015)

From my own searches in a similar price bracket (though not in Marbella or similar), I think your only option at lower than 55k would be a place that needs a lot of work. And I'm talking village houses in the mountains, so I'm sure this is still more the case on the (more expensive) coast. Though I guess there will be more bank repossessions there...


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## John98103 (Nov 12, 2015)

How is Turkey changing? Assume you mean, for the worst?


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## cortina61 (Apr 26, 2016)

For us day to day it hasnt changed but the bigger picture is that schools now have Islamic curriculum, no mixed uni dorms, more people covered and is very close to a Presidential system ( some would say it is already ) especially now the new pm is right behind the president having complete power.
An Islamic constitution has already been drafted and recent speeches have said there's no room for secularism and democracy.


Sent from my LG-H815 using Tapatalk


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## goss (May 20, 2016)

As part of my work (the word "architect" in my user name is no coincidence) i've been checking out property prices 2015-2016. I got hold of an exhaustive report prepared by BBVA. The stats are based on INE (notational statistics institute) and data from notaries. It covers the whole of Spain and convincingly substantiated the supposed rise is house prices. I believe the national average rise was over 3% (inter annual 2015-2016). Some regions even reached 5% (Catalunya).

If anyone is interested in a specific region / time frame I could let you know.

BTW, land prices are also rising, having hit a low last year (for anyone interested in building). Construction prices are still exceedingly low.


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## Overandout (Nov 10, 2012)

goss_architect said:


> As part of my work (the word "architect" in my user name is no coincidence) i've been checking out property prices 2015-2016. I got hold of an exhaustive report prepared by BBVA. The stats are based on INE (notational statistics institute) and data from notaries. It covers the whole of Spain and convincingly substantiated the supposed rise is house prices. I believe the national average rise was over 3% (inter annual 2015-2016). Some regions even reached 5% (Catalunya).
> 
> If anyone is interested in a specific region / time frame I could let you know.
> 
> BTW, land prices are also rising, having hit a low last year (for anyone interested in building). Construction prices are still exceedingly low.


Despite being a lowly arquitecto tecnico and not a real arquitecto (!) I would be interested in seeing data for Madrid over the last year.

Can data from Madrid be broken down into distritos?


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## thrax (Nov 13, 2008)

Prices in my bit of Spain are still dropping albeit slowly. There are so many empty properties around, many of them repossessions and with an increase of ex holiday rental places coming onto the market because of the new tourism licencing law I think prices will drop yet further. A neighbour, who wants to sell her campo villa, has been told by several agents that she should put it on the market for €350K and hope to get around €300K. Just before the 2008 crash the house was valued at between €850K and €900K. So she has decided to put it on the market for €425K but cannot find an agent to take it on...


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## goss (May 20, 2016)

according to the report, Madrid (comunidad autónoma) was one of the highest risers. Overall interannual price rise was just under 6%. This the overall average that includes both new build (that suffered a 7% price increase) and second hand (5.5%). There's no breakdown for districts, at least in this report. 

btw, as you'll well know arquitectos técnicos are valued much more highly in spain than "real" arquitectos, as you put it!

in case you're interested, the land (suelo urbano) prices in Madrid rocketed (17% rise!)


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## KG5 (Mar 21, 2016)

goss_architect said:


> according to the report, Madrid (comunidad autónoma) was one of the highest risers. Overall interannual price rise was just under 6%. This the overall average that includes both new build (that suffered a 7% price increase) and second hand (5.5%). There's no breakdown for districts, at least in this report.
> 
> btw, as you'll well know arquitectos técnicos are valued much more highly in spain than "real" arquitectos, as you put it!
> 
> in case you're interested, the land (suelo urbano) prices in Madrid rocketed (17% rise!)


I'd be grateful if you would share the information for the Malaga region.

Thanks in advance

KG


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## labob (Dec 2, 2014)

goss_architect said:


> As part of my work (the word "architect" in my user name is no coincidence) i've been checking out property prices 2015-2016. I got hold of an exhaustive report prepared by BBVA. The stats are based on INE (notational statistics institute) and data from notaries. It covers the whole of Spain and convincingly substantiated the supposed rise is house prices. I believe the national average rise was over 3% (inter annual 2015-2016). Some regions even reached 5% (Catalunya).
> 
> If anyone is interested in a specific region / time frame I could let you know.
> 
> BTW, land prices are also rising, having hit a low last year (for anyone interested in building). Construction prices are still exceedingly low.


Hello Goss, could you tell me about Valencia, both city and region, please?


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## suiko (Dec 7, 2015)

KG5 said:


> I'd be grateful if you would share the information for the Malaga region.
> 
> Thanks in advance
> 
> KG


Thrax is from there. I would tend to agree with their analysis, after my own searches in the area.


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## goss (May 20, 2016)

KG5 said:


> I'd be grateful if you would share the information for the Malaga region.
> 
> Thanks in advance
> 
> KG


As I mentioned in my previous reply to Overandout regarding the prices in Madrid, the report unfortunately does not provide breakdowns for provinces or regions. It does however provide information by Comunidad Autónoma - in the case of Málaga this would obviously be Andalusia:

Interannual rise (during 2015) is 3% (which is pretty much the national average.)
Price rise for new build: a little over 5%
Price rise for second hand: 2,75%

Also, in case you're interested, land prices actually dropped in Andalusia (-5%) -could be a good time to invest in a plot!

Andalusia is obviously a large and diverse comunidad autonoma and so these average percentages can be misleading. Málaga, marbella, etc are typically areas in high demand and therefore might have suffered higher price rises, although I don't have the data to substantiate this.

hope this is of assistance.


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## KG5 (Mar 21, 2016)

goss_architect said:


> As I mentioned in my previous reply to Overandout regarding the prices in Madrid, the report unfortunately does not provide breakdowns for provinces or regions. It does however provide information by Comunidad Autónoma - in the case of Málaga this would obviously be Andalusia:
> 
> Interannual rise (during 2015) is 3% (which is pretty much the national average.)
> Price rise for new build: a little over 5%
> ...


Very comprehensive - thanks for responding.

best

KG


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## goss (May 20, 2016)

labob said:


> Hello Goss, could you tell me about Valencia, both city and region, please?


I can give you the average figures for the Comunidad Autónoma Valenciana:

overall prices rise during 2015: 2.5% approx.
this can be broken down into:
new build: 5.25%
second hand: 2.75%

land prices have also dropped in Valencia (approx -1.5%)

bear in mind these are all figures for the entire Comunidad Autónoma.


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## Alcalaina (Aug 6, 2010)

The Fotocasa property website analyses prices at local level every month, based on actual sale prices.

http://www.fotocasa.es/en/real-estate-index-evolution-of-housing-prices/


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## nosreme (May 16, 2016)

suiko said:


> From my own searches in a similar price bracket (though not in Marbella or similar), I think your only option at lower than 55k would be a place that needs a lot of work. And I'm talking village houses in the mountains, so I'm sure this is still more the case on the (more expensive) coast. Though I guess there will be more bank repossessions there...


That's quite true my friend but there are still some out there that's doable. Would be okay to spend around a few thousand like 3 to 4k for a home that's just worth 40, that'd be still a great offer.


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## Isobella (Oct 16, 2014)

I can't imagine there would be anything at 50,000 on the CDS. Maybe a garage


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## suiko (Dec 7, 2015)

Isobella said:


> I can't imagine there would be anything at 50,000 on the CDS. Maybe a garage


There are loads of bank repossessions at under 50,000, at least in the areas where I've been looking. More than you can shake a stick at, in fact!


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## Isobella (Oct 16, 2014)

The property market must be in a worse state than I thought.

Any examples in Marbella/Estepona/Fuengirola?


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## Alcalaina (Aug 6, 2010)

Isobella said:


> The property market must be in a worse state than I thought.
> 
> Any examples in Marbella/Estepona/Fuengirola?


You should take a look at Fotocasa etc, you might find it interesting. Just filter on <€50k.

Comprar Pisos Costa del Sol Occidental Zona de Benalmádena | fotocasa


Casas y pisos hasta 60.000 euros en Estepona, Málaga — idealista


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## Isobella (Oct 16, 2014)

Wow! I am really surprised.


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## Horlics (Sep 27, 2011)

I'm not surprised. I took a look at the fotocasa pages and I would describe every one of those places as having low or no appeal to the majority of expats. Most (not all) expats are looking for pleasant developments with pools, whether in town centres or on the outskirts. The price per sqm differs massively between the two types of property.

I know somebody who bought recently bought a spacious 3 bedroom flat. It was advertised by the bank at 99k. He bought it for 65k

The towns a few kilometers inland up and down the north of the Costa Blanca are littered with homes you can get for less than 50k.


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## Elyles (Aug 30, 2012)

cortina61 said:


> Hi As someone contemplating Spain as an alternative to where we are now in Turkey, can you tell me the main reason why a lot of ex pats have left please Sent from my LG-H815 using Tapatalk


 Americans seem to stay once here!


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## Lynn R (Feb 21, 2014)

It seems the old practice of increasing the price of a property in Spain if it hasn't sold (instead of reducing it!) has been resurrected - possibly because agents and vendors think the market has improved? Last year I saw an ático advertised here in Velez which I liked the look of. I've just checked the agent's website again (same agent) and the asking price has increased by €70,000.


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## woodpecker9 (Jan 22, 2021)

xabiaxica said:


> Under 3% if my maths hasn't let me down. Not many in the scheme of things.
> 
> And so many go on about how the Spanish economy would collapse (further, if that's possible) if Brits stopped buying property in Spain


Could be up to 10%.
It is unknown how many illegal British are in Spain. You only need an NIE to buy and sell a property. Many Brits remain in Spain under the radar with their successful cash only businesses of professional pool cleaners, gardeners, decorators, airport taxis and dog minders.


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## xabiaxica (Jun 23, 2009)

woodpecker9 said:


> Could be up to 10%.
> It is unknown how many illegal British are in Spain. You only need an NIE to buy and sell a property. Many Brits remain in Spain under the radar with their successful cash only businesses of professional pool cleaners, gardeners, decorators, airport taxis and dog minders.


But we're not talking about 'illegal immigrants / unregistered residents'. The numbers of property owners by nationality is a matter of public record - we're ONLY talking about owners, Whether they live in the property full time or not is neither here nor there as far as those figures are concerned.


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## woodpecker9 (Jan 22, 2021)

xabiaxica said:


> But we're not talking about 'illegal immigrants / unregistered residents'. The numbers of property owners by nationality is a matter of public record - we're ONLY talking about owners, Whether they live in the property full time or not is neither here nor there as far as those figures are concerned.


Correct, but many properties over the last 10 years have been purchased by British as limited companies, registered who knows where, to avoid inheritance tax. Upon the death of a shareholder the share is transferred to someone else (son, daughter, grandchild, auntie Agnus) the property is not sold, it has not changed hands. Does your maths account for these properties?
My latest information from my informant is that every Russian purchase in Spain is done this way.


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