House prices in Spain continues to increase. According to figures from the Spanish statistics bureau INE. In July, August and September, the price level 4.5 percent higher than the same time last year.
The quarterly increase is the comparison of 0.7 percent, more modest than the increase from the first to the third quarter, when prices went up by 4.2 percent. The tendency is, however, clear. After six years of consecutive declines yesterday curve upward and has done so for the last six quarters in a row.
Inflation applies to all Spain's regions. According to Instituto Nacional de Estadística (INE) has the biggest increase has been looking at the Balearic Islands (8.4 per cent), followed by Madrid (6.9 percent) and Catalonia (6.1 percent). By comparison, the most modest inflation has been in La Rioja (0.9 percent), Aragon (0.9 percent) and Basque (1.0 percent). In Comunidad Valenciana where Costa Blanca belongs, property prices increased by 2.1 compared to last year
Housing sales up 2.7 percent
The price increase in the market is because it is now increasingly sold more homes in Spain. According to Ines calculations were in September sold 13.5 percent more homes compared to the same month last year. New figures show that sales have also gone up in October. The figure is not as high as in September but nevertheless confirms the trend with an increase of 2.7 percent. Sales have thus gone up for 14 consecutive months. If one only looks at developments in 2015 from January to October, the increase of 11.2 percent.
The stable rise in both sales and price suggest that the crisis in the Spanish property market is a thing of the past. The positive trend is explained by developments in Spain's economy. The country has been in economic growth over the past two years and confidence in the economy returns. Increasingly new firms from both home and abroad are investing in real estate and the demand for housing increases. Meanwhile, the variation from place to place but average estimates show a clear upward trend.
Read also: The year the housing market stabilized
Illustration: The price development of the Spanish property market from 2014 to 2015. The curve for new housing is marked with yellow, existing homes are marked with gray, while red means both (Instituto Nacional de Estadística 2015).