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Revalutaion of property in Spain

  
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In 2004 property in Spain has an average revaluation of 20%
Provinceeuros/m2 % increase in value
Malaga
1.660
29
Cadiz
1.095
24
Gerona
1.442
23
Tarragona
1.296
25
Murcia
1.156
26
Alicante
1.341
19
Castellon
1.007
20
Valencia
952
22
Madrid
2.593
19
Barcelona
2.075
22
España (media)
1.458
19
Source:TINSA
Figures at 30-6-2004 compared to overall figures for 2003.


The Costa del Sol is still one of the areas which offers investors in property the best return. According to the latest studies, people who invest in property on the Costa del Sol can still expect excellent value for money - 10% more than the average return on property in Spain. According to these figures, people investing in property on Spain's other costas - Costa Brava, Costa Cálida y Costa del Azahar - can also afford to be optimistic.

Another interesting statistic is that prices of property in coastal areas are still much lower than prices in the major Spanish metroplolitan areas (Madrid, Barcelona, San Sebastian...). So mucho so that property in capitals of provinces like Cadiz or Castellon costs half the price of property in other capitals.

Nevertheless, experts advise caution, because the property market in Spain is no longer the easy option. Buyers are advised to study the area they are considering buying property first before purchasing. The past few years have witnessed an unprecendented boom in the construction industry and some coastal areas, subject to speculation, already have a surplus of new and second-hand property. See figures on the price of housing in Spain in 2005.

 

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© 2000 Euroresidentes. ItyIs Siglo XXI, Revaluation of property in Spain