Spain's AVE train network pushes up property prices
Spain's AVE train network pushes up property pricesSpain's high-speed rail network (AVE) plays a significant role in the country's housing market, according to Spanish property portal Kyero.
All major infrastructure investments in Spain
have a long-term impact on both the country's economy and the value of its housing. It therefore stands to reason that "properties within striking distance of an AVE station", as well as those well served by international flights, will attract a price premium.
To demonstrate their hypothesis, Kyero has launched a new Spanish house price index, which shows that the property prices in towns and cities served by AVE stations outperform their provincial averages. For example, house prices in Malaga
, which is served by the AVE line, are currently 24.7 per cent more expensive than in Andalucia and 23.7 per cent higher than the national average across Spain.
Other cities showing similar trends are Seville
and Cordoba, both outperforming their provincial averages, and both with AVE stations.
Such cities are "pretty sizeable", which will also play a role in determining house prices. Nevertheless, more AVE stations are planned, including one in Jaen
in Inland Andalucia
, and Kyero will be interested to see how the introduction of the high-speed train impacts on their house prices.
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19 June 2008 Print this article