2014 is the year when Spanish property prices reached the bottom.
As you can see on this chart, Spanish real estate prices (thick orange line) got its lowest price point in early 2014 since the crisis of 2008. Since early 2014, real estate prices are rising and reached 1,662€/m² end of September 2021. If you look at prices in general, yes we can talk again about growth but if you compare those to the levels of 2008 or to European real estate prices, you can still find bargains. Furthermore, real estate prices remain lower than the prices of early 2005 which were at 1680€ per square meter.
The 3 winning regions since 2014
The market in Spain is divided into two groups since 2014: the regions with rising prices: Barcelona, Madrid and the Balearic Islands and all the other regions where the prices have stabilized or are increasing modestly.
Is it easy to buy in Spain?
It is really easy to buy a property in Spain but:
- because you are not on the ground,
- because you don’t know the market and
- because you need to check your property in order to avoid any nasty surprise, we advise you not to do it alone.
We are foreigners and Spanish residents who bought properties in Spain and we developed a network of reliable partners in order to assist foreigners in their purchases of a Spanish property.
We wrote this detailed article to help you out: Our ultimate 2021 guide to buying your property in Spain, you will get most of our tips there.
Don’t forget, if you are buying in Spain as a foreigner, you could have two different motives:
or the two combined. Depending on what is (are) your own motivation (s) your criteria will be different.