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News: Spanish property prices 'healthy'

Fri, 11 May 07

A new price index from Kyero.com reveals twelve months of health price increases across Spain...

Property in Barcelona has traditionally been a favoured option among investors and the popularity of the area means that it has the highest average prices in the country, with a typical home there costing 606,000 euros (£412,260).

This is an increase of 12 per cent over the past 12 months, although a large portion of this was contributed by the large, five-bed property segment, which saw prices go up by 17 per cent.

Using Barcelona as an example, Kyero.com suggested that Spanish property in major cities is increasing in value significantly while smaller locations are seeing prices stay fairly level.

Major tourist destinations are often attractive options for Spanish property investors and the site’s figures reveal that Malaga (11 per cent) saw the most pronounced price increases of the country’s ''Costa'' regions, followed by Alicante (eight per cent).

The group responded to speculation that prices are set for a fall in some areas in Spain, saying that there is currently "no evidence of a property price crash" in these popular tourist locations.

An average property in Spain, according to the statistics, currently costs 250,000 euros (£170,000).

 

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