Property prices in Spain in 2018 and property prices forecast for 2019 

The demand for property in Spain is steadily growing. And so is the price doing. Over the past year, the property prices in Spain increased by 9.2% on average. A square meter will cost you on average €1697.

The current state of the real estate market in Spain may be described by the following trends:

• Sales growth. The demand for property is growing considerably and is highly likely to reach the pre-crisis level very soon. The fastest growing sales are observed in the region of Rioja (+59.1% of property transactions), Murcia (+50.2%), Castilla-La Mancha (+48.7%). According to the statistics, in the first quarter 16.7% of all property transactions were made by foreign buyers. Most of them are buyers from England, Scandinavia and Belgium.
• Growing prices. The prices are growing in the commercial property sector as well. On average, the price of a square meter grew by 4.2% over the year. Resale property options are increasing in price too: +2.7% from April to June.
• Rental income. The profit ratio of renting housing increased to 7.8% by April. Apart from houses and apartments, experts consider it profitable to invest in offices and garages, which can also be used for rent. The highest profit ratio is observed in Las Palmas de Gran Canaria (7.7%), Lleida (7.7%), Murcia (7.2%), Huelva (7.2%), Santa Cruz de Tenerife (6.8%), Almeria (6.7%), Madrid (5.2%), Barcelona (4.7%), Zamora (4.6%), La Coruña (4.4%).

Overseas property buyers are interested in coastal provinces. Top destinations for foreign investors include Alicante, the Balearic and Canary islands.

Experts expect a further growth in property prices in Spain. According to their forecast, the growth rate will be approximately 4.7%. The growth trend will keep on going till 2021.