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Spain and Italy: Cheapest countries to buy property


average-house-prices-in-spainSpain and Italy are the European countries where it is cheaper to buy a single family home, according to estimates of the International Monetary Fund (IMF) and KBC Bank. Specifically, in Spain the average is 170,000 Euros, while in Italy it costs more than 150,000 Euros. Germany and the UK are the most expensive countries to buy a detached house at more than 250,000 Euros.

In a report on the Belgian economy the evolution of housing prices in Belgium, Spain, Ireland and Germany is shown. In Belgium prices have risen 110% in real terms since 2000 but, unlike other countries in the European Union like Spain, they continue to grow, according to an IMF report.

house-price-evolutionThe overvaluation of houses in Ireland had no parallel in any other country of the European Union as seen in the graph. In the case of Belgium, the property is overvalued by 5-15% according to the IMF and KBC Bank.

As far as the Spanish property market is concerned, this can be valued as positive news after six year’s of falling house prices, and perhaps at last, creating a solid environment for the market to recover.


Original source (in Spanish): idealista.com


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