Spanish Home Prices Increase
Whilst they haven't yet rocketed up, home prices rose almost 1 per cent in the second quarter according to the Association of Property Registrars, the first increase in six years. The year-on-year increase of 0.97% will not be earth shattering news for battered sellers but it certainly adds to evidence that the property market is turning around. The price increase compared to the previous quarter was a slightly stronger 1.53%. Growing demand from overseas buyers was a key driver with British buyers making up the largest percentage of foreign buyers, followed by the French, Russian, German and Belgian buyers. The British are also flooding back with the exchange rate moving in a favourable direction for buyers of Euros. In fact recent figures from Peter Lavelle of foreign exchange consultancy Pure FX suggest that clients buying property in Spain now have approximately17.000 Euros more for every 125.000 GBP they spend compared to March 18 months ago - quite some differe...