Property values in Spain have tripled in the last ten years

December 2, 2006

The Savings Banks Foundation (Funcas) report, published on Friday, revealed that between 1995 and 2005, the value of the average home in Spain rose from EUR 570 per sq m. to EUR 1,841 per sq m. Over the past five years homes have been increasing in value by 17 percent each year. Funcas reported that there was no sign of a slow down, since demand remained strong. Two million more Spanish homes are expected to be built this year alone. In Spain, there are 510 homes for every 1,000 inhabitants, compared with European Union average of 468. By 2011, the report said, there should be 17 million new homes in Spain. For an extensive choice of new and off-plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.