Sunday 22nd July 2018
The leading Spanish valuation company Tinsa has published
their latest report on Tuesday 17 July 2018, relating to residential property values. The average price of housing in Spain
increased by 6.4% year-on-year in the month of June 2018, driven by the "capitals
and large cities" and by the "Mediterranean coast", which show an increase of 10.2% and 7.4% respectively.
While the latest average price is still calculated to be
35.7% lower than the peak reached during the boom in 2007, it now 12% higher
than when the market bottomed out in February 2015.
After the first 6 months of 2018, Tinsa describe the increase
in property values as "dynamic”.
Here is a link to the Tinsa report. You can download the report by clicking on "descargar informe" or scroll down the page on the link below, to see the figures for the Mediterranean coast under the section "Variación interanual en los últimos 12 meses" (interannual variation for the last 12 months):
IMIE junio 2018: + 6,4%. 17 julio,
capitales y grandes ciudades toman impulso y se encarecen más de un 10% en tasa
interanual en junio 2018.
precio medio de la vivienda terminada en España se incrementó un 6,4%
interanual en el mes de junio, impulsado por las "Capitales y grandes ciudades”
y por la "Costa mediterránea”, que se revalorizaron un 10,2% y un 7,4%,
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Sunday 19th November 2006
I recently visited Moraira to enjoy a coffee in a seafront cafe, in the El Portet area of Moraira. It is a magical bay, surrounded by villas and small apartments, overlooking the Mediterranean Sea and sheltered from the north winds.
As apartments are built in Javea and Moraira, usually almost 100% of the property is sold before the complex is finished. Why is this? Typically the property purchasers are from Madrid or Northern Europe. Those from Madrid may be attracted by the property prices, always lower than the property prices in the city of Madrid. Also they can holiday in their new homes by the sea, escape the heat of the summer months in the city and enjoy the refreshing sea breezes, the beautiful surrounding scenery and the Mediterranean lifestyle.
Property purchasers from the UK and other northern European countries are attracted by the off plan property prices offered by the constructors. The other benefit is of course the summer holiday rental period, which can provide an extra income to help to pay for their property investments. Javea has seen over 2000 apartments built in the last 10 years. Each year more and more people visit the area and then decide to return and live here all year round.
It is a real pleasure to see young families arriving to live in Spain, wishing to improve their lives and escape from their mundane jobs, high mortgages and the dull weather. They have decided to live their dream and start a new life in the Mediterranean sun. Be careful though, as many have to return to the UK because of lower wages and private school fees. Eating out in Javea and Moraira is cheaper than in the UK, so you tend to eat out more often. So do your sums well. It’s easier to spend money than to earn it, anywhere in the world.
Moraira has fewer new apartments, due to the scarcity of land along the Moraira coastline. Javea in turn has more land available to build new property and apartments. Therefore the property prices of apartments in Moraira are a lot higher. New builds are costing up to 4,000 euros per square metre in Moraira, while in Javea prices for new apartments start at 2,200 euros per square metre.
I visited a fantastic property in Moraira, an apartment. The property owners have invested a lot of time and well spent money on reforming a three bedroom apartment in an older complex. The transformation was brilliant. No expense was spared on the property, new fittings, kitchen units, floor tiling, new electrics and even creating an extra shower room in an area which was originally part of the entrance hall.
Every area in the property has been finished to a high standard, the floors, walls, marble worktops in the kitchen, new doors. It also has hot and cold air conditioning. The property refurbishment was one of the best that I have seen. Well done to the owners! And good luck to the future Moraira property purchasers, as they will be delighted with their new 3 bedroom, 2 bathroom apartment in Moraira, just a 5 minute stroll to the old town and the beach. Alternatively, there is a large pool on the 5th floor, if you fancy a dip, just metres from this fantastic apartment!.
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