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Property prices in Spain. The cost of property in Spain today.

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Property prices in Spain. The cost of property in Spain today.

Spain, like many countries around the world suffering from the effects of the global financial crisis.

Prices for Spanish property which grew annually by 10-15% until 2008, experienced a serious crisis, pressure, causing them to fall in two years, according to some estimates, 15-20%

The current situation with prices on the Spanish property market is certainly favorable for buyers: the builders and owners on the secondary market have made or are willing to make substantial discounts on their property.

Needed in this case understood that the maximum drop touched not the most attractive real estate, built in time for the all-absorbing and undemanding English market. Good location and quality real estate, and if dropped in price.

In favor of the latter can be added as soon as a worthy object for sale at really discounted prices, selling it occurs with surprising rapidity. In Spain (and abroad), despite the crisis, there are a large number of people who are able and willing to invest in attractive facilities across the country. So when a realtor tells you that the decision to purchase the good object at a discount must be taken quickly, it's not a trick professional, but a necessary condition. For best deal.

What are the prices and costs at a property in Spain have developed today?

Because to be objective is 100% impossible because of the huge variety of factors affecting the price, we'll talk about prices for different types of real estate located in the coastal areas of Mediterranean Spain.

  • A decent studio to buy from 45000 euros (Torrevieja) to 100 000 euro (Marbella, Costa del Sol)
  • Apartments from 60,000 euros to several million, depending on square footage, the merits of the region, district, etc. On average, two bedroom apartment within walking distance from the sea in a decent house can be bought for 150 000 - 200 000. Atico (Attic) on the top floor with nice views of the sea are much more expensive.
  • Bungalow - from 80,000 euros to 150,000 euros
  • Attached house - from 140,000 to 250,000 euros
  • Private home with a plot and a swimming pool - from 200 000 euros on average. Closer to the sea, more expensive.
  • Villas - from 450 000 euros and above. Limit price is not.
  • Land - not the average price. Depends on the location and purpose of the site. Plot on the beachfront in the prestigious area can cost 100 000 euros per hundred square meters of land, not on the first line of 50-70 000 euros for a hundred. Far from the sea can cost an order of magnitude cheaper.
  • Commercial premises - can be bought from 500 euros per m2, depending on the city, district and many other factors. On the sea front of a large city square meter could cost 10,000 euros.

To date, property prices in Spain have stabilized, but analysts have said the Spanish regions where the price will still fall.

 

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