Spanish East Coast Property Prices at 2005 levels

According to news out today, the price of property in the autonomous community of Valencia, which takes in a lot of the East Coast of Spain, including the capital, Valencia itself, is now at the same level as in 2005.

The price per square meter has been reported as 1,459 Euros whereas in 2005 it was at 1,428 Euros, practically the same.

Of course this does not affect all coastal Spanish property. A large part of these statistics are taken from urban property prices in the bigger cities which can seriously bias them. When we take into account the increasing unemployment in Spain and the recession itself, it stands to reason that the price of property in the cities will, at the very least, stagnate.

As we commented in our Blog yesterday, this does not necessarily spell doom and gloom for the overseas buyer. Property in the coastal reasons of Spain is not only linked to the Spanish economy. Most of Northern Europe wants to purchase something in the Spanish Costas so prices in some areas have held steady or even risen.

This is the case with property in places like Nueva Andalucia in the Costa del Sol, Punta Prima in Costa Blanca and parts of north Costa Blanca like Denia and Altea. Villas in Altea and apartments in Denia have remained quite strong.

We have also seen strong resistance to price drops in the market in Barcelona, perhaps for the way its real estate is hemmed in to a certain extent by the mountains to its back and the sea to the front. Whatever the reason, buying real estate in Barcelona is sure to be a good option today and will prove to be a significant asset in the future.

Whatever you do, enjoy the journey!