Property
be Ma s m t p laga ag ro ’s az pe in rty e
www.theolivepress.es
Issue 28
April 2019
PLASTIC FANTASTIC: How this remarkable centre could win Spain important architectural prize, See page IV
WOAH: Emerging from the rock, this stunning home in Valencia is trademark Fran Silvestre, a Spanish architect who is continuing to make his mark in the architectural world. See Fran-tastic page XVI
Rock steady
T
HE average property price in Spain has grown for two consecutive years for the first time in a decade. The national average house price rose from between 3.9% to 8.4%, according to various sources. Along the Mediterranean coasts and on the islands, where most foreigners buy, the average price hike has been 4.06%, according to Tinsa, Spain’s leading property appraisal company. But the figures have mostly not yet made up for the big drops during the long six year recession, with the exception of the
Prices rise for two consecutive years, while mortgage values continue to grow
Balearic Islands. “Prices have been rising most years since the recovery began, but nothing like they did in the boom years, and nowhere near enough to claw back the ground lost in the bust,” explained respected analyst Mark Stucklin, of Spanish Property Insight.
However, he added ‘at the very least, the data suggests that the Spanish property continued to grow last year.’ Mortgage lending to home buyers meanwhile was up 6.1% in January to 19,390 new loans, according to the Association of Spanish Notaries. The average new loan made in January had a value of €135,616, an increase of 0.9% in a year. As long as mortgage lending for residential acquisitions continues to increase, as it has done for the last few years, the Spanish property market is set to grow.