Cost of Spanish villas rising
Cost of Spanish villas rising
Areas popular with British property owners in Spain are seeing real price increases across the country, according to Kyero.com.The company reported the study is not authoritative but a guideline. British investors can expect to pay €10,000 more for a home in November than they would have paid in August.
The rise in property prices is clearly a blow to British investors looking to break into the market since 75 per cent of respondents in the Kyero survey said they "wouldn't touch it with a barge pole".
The average property price in Spain is now €245,000 (£165,000) and is considerably higher in the north-east and in urban areas.
Barcelona asking prices are already 14 per cent ahead of August values, leading some to wonder if the market is honest.
Government intervention in estate agent practices is expected to create a healthier market overall, which is safer for British investors who would previously have been cautious about entering the market.
The UK average house value is not far off the Spanish prices at £185,000 as reported by Halifax last week.
14 November 2006
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