Madrid drives Spanish house price growth

February 12, 2025 06:36 PM AEDT | By EIN Presswire

Google News:

Madrid drives Spanish house price growth — Image source: EIN Presswire

Recent News

Energy, Gold, and Dividends: Key Moves on the ASX 200 Today

Mondelez International bull case now ’feels more tangible’ - Wells Far...

ASX 200 Data Centre Stocks Powering Digital Infrastructure Shift

Meta and Oakley team up to launch AI-powered smart glasses for athlete...

LONDON, LONDON, UNITED KINGDOM, February 12, 2025 /EINPresswire.com/ -- The Spanish capital Madrid was among seven regions in Spain which experienced double digit house price growth.

The research comes from eXp Spain, which analysed house price growth between January and December 2024 to reveal which locations are driving Spanish property market performance.

In Madrid prices rose by a staggering 16% over the period, from €3,247 to €3,771. This amounts to an average increase of 1.4% per month.

After that comes Murcia, Spain’s seventh largest city by population, with a 16% increase from €1,192 to €1,379.

Island living

In third place comes the Canary Islands, also at 16%, where prices rose from € 2,463 to €2,846, completing what looks to be a very wide geographical spread in terms of house price gains in Spain.

The most expensive region in the country is the Balearic Islands, at €4,707 per square foot, rising by 13% throughout 2024 - clearly demonstrating an allure to island living in Spain.

Property price gap widening

Some of the cheaper areas in Spain saw more muted house price growth in 2024, stretching the affordability gap between them and the likes of Madrid and Murcia.

Prices in La Rioja - a region known for wineries - only rose by 2%, from €1,329 to €1,349.

Meanwhile Extremadura remains a very affordable region of Spain, as prices rose by just 2% in 2024, from €967 to €986.

Rush to buy before Golden Visa expiry and tax hikes

Spain house price growth is surging in part due to foreign investment, largely via Spain’s Golden Visa scheme. The scheme offers non-EU residents the right to live and work in Spain provided they invest at least €500,000, however, a deadline has now been set to phase out this scheme on 3rd April this year.

With Spain also considering a 100% property tax on foreign buyers from outside the EU, it’s hoped that a reduction in foreign buyer demand could help cool the property market and therefore make it more affordable for domestic buyers.

James Lockett
ProperPR
+ +44 7584 248960
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.