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Villa-in-La-Zagaleta

Property prices in Spain increased by 1.5% in June with prices increasing by as much as 3.6% in capitals and big cities, according to Tinsa.

House prices also rose in areas where foreign demand is rife, such as the Canary and Balearic Islands where prices increased by 1.8% and the Mediterranean coast which saw prices grow by 0.3%.

In the first six months of the year property prices increased by as much as 8.7% in the Canaries and Balearics and by 3% in big cities and capitals. However, within the same time the price of coastal properties declined by 0.8%.

The number of property sales has also been increasing; in the first five months of the year the number of property transactions increased by 15.8%. In fact, over the course of the past 21 months only one month, January 2016, recorded a drop in the number of home sales, according to the National Statistics Institute.

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