Andalusia\'s Capital City and Tourism Capital of Spain
Discover Seville's Real Estate
Seville, the capital city of the autonomous province of Andalusia and also ranked fourth-highest in the country\'s most populated city rating. The city is famous for hosting Spain\'s largest historical center and the third largest across Europe. Seville is popular for its timeless beauty, numerous attraction sites, and rich history.
Culture, History, and Business
The city of Seville was first established as Hispalis, a city within the Roman Colony. After the city was conquered by the Muslims in 712, it became known as Ishbiliyya. During the Muslim rule in the country, it was under the Caliphate of Córdoba’s jurisdiction before gaining independence and referred to as Taife of Seville. The affairs of the city were taken over by the Almohads and the Muslim Almoravids. It was finally integrated into the Christain Kingdom of Castile in 1248 during the reign of Ferdinand III. The aftermath of the discovery of the New World saw Seville become an economic center of the Kingdom of Spain and its port monopolizing the trans-oceanic trade.
The city has the highest GDP in Andalusia, generating one-quarter of the region’s total GDP. Most of the smaller villages in the city are Agric-centric. However, the trading and tourism sectors are the biggest contributors to the city’s economy.
Real Estate Appeal
The real estate market in the city of Seville is growing at a rapid pace, with prices predicted to skyrocket soon. If compared in the property market, real estate in Seville had increased by 28.9% from April 2017.
The price of a property in Seville depends on the area or location. Most investors want to invest near the city center as the greatest number of tourists come to that part of the city, and any property there has the potential to generate high returns. This has made the property prices within the city center to be considerably higher. However, prices begin to gradually decrease as you move away from the city center.
Rental yields at the city center are at a rate of 5.26% while outside the city center is 6.05%. The cost of renting a one-bedroom in the city center and outside the city is €632.94 and €456.25, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is €1,034.38 and €691.67, respectively. The cost of an apartment in the city center is €2,516.67 per sq. meter while outside the city center cost €1528.57 per sq. meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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