There was double good news for Spanish property buyers when Spains biggest valuation survey reported prices of resale homes went up by 16.6% in the first three quarters of 2005.
That was the good news for UK residents who have already purchased their properties in the last year or so and there was further good news for investors and buyers planning to buy in the next few months the survey showed equity growth was down 3% for the same period last year, resulting in ownership for less and with a good equity growth.
The Spanish Real Estate Association (Tasaciones Inmobiliarias -TINSA) said the average price of a ‘used’ or second hand house per square metre (psqm) was EUR 1,772. This meant home prices had risen 16.6% in the past year to September. In larger cities, the price was higher, with the average being EUR 2,304 psqm a 16% rise.
But TINSA, the firm who will be providing valuations for the SIPPs in Spain pension property owners, said in its report that despite these rises, the deceleration of house price increases in Spain was continuing. A year ago, house prices had risen 19% during the previous 12 months. TINSA carried out a study...
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