Spanish property 'up' in 2005

20 January 2006
Activity in the Spanish property market seems to signalling a rise as new figures reveal that the prices of second homes were up last year.

House values in Barcelona rose by 15 per cent in 2005, while second homes in the capital Madrid increased by more than seven per cent, according to a report by

However, the research showed that these two major cities are being outperformed by second homes in Valencia, which lies on the Spanish east coast, as some of its districts saw double digit growth in the last three months of 2005 alone.

Despite its strong rise last year, Barcelona's performance is down on previous years.

Three years ago, prices for second homes in the city rose by 30.2 per cent, while in 2004, the Spanish property saw a rise of 18.3 per cent.

Similarly, the growth in second home prices in Madrid was the lowest it had been in five years, but just slightly down on last year.

But in Valencia, the Spanish property boom is continuing as figures from the final quarter of 2005 saw a double digit rise.

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