In Madrid, house prices began rising in 2014, having plunged by up to 40 per cent from the 2008 peak, according to Funcas, Spain’s savings bank foundation. In December 2016, prime property cost an average of €6,700m2; by December 2017, the cost was €7,400m2.
Real Estate News from the Spanish Market
Madrid more affordable compared with Paris and London.
We’re seeing a strong appetite both from domestic and foreign investors, friends, relatives and other people interested in real estate are talking about maybe changing their house, moving to a bigger flat, or even investing in a small flat to let.
Spain as the Eurozone’s 4º largest economy emerges from the “rough decade” that followed the financial crisis, the Real Estate is moving, agents report. According to the National Institute of Statistics, in the year to October 2017 sales in Madrid grew by 50 per cent. This year, sales are expected to be further buoyed by the ongoing exodus of companies and workers from Catalonia in the wake of a chaotic referendum on independence last year.
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