Growth of Spanish property market will continue into 2017.
Growth of Spanish property market will continue into 2017.
taylorwimpeyspain.com
20.02.2017 | 15:43
Properties
The Spanish property market grew by 14% in 2016, says Property Wire referring to the National Institute of Statistics. This is the most remarkable increase in sales of real estate since the run up to the last real estate rise - there were 362,182 home sales recorded on the Spanish property register in 2016.
Even though it’s hard to reach the level of 2007 when the volume of deals increased by 50%, the market has expanded for the past three years after reaching its "bottom" in 2013.
Most deals were made in the Balearic Islands (+ 31%) and in Barcelona (+ 24%). Mainly the sales increased due to the growing demand from foreign buyers in key markets.
"Small investors are moving out of cash and deposits and into property, and this trend will probably continue in 2017. So 2016 was a year of positive news for the market in terms of sales, and 2017 should be more of the same assuming no nasty shocks", says Mark Stucklin, from Spanish Property Insight. "However, he continues, there are plenty of potential nasty shocks lurking around the world today".
We also keep our fingers crossed, Mr. Stucklin.
Even though it’s hard to reach the level of 2007 when the volume of deals increased by 50%, the market has expanded for the past three years after reaching its "bottom" in 2013.
Most deals were made in the Balearic Islands (+ 31%) and in Barcelona (+ 24%). Mainly the sales increased due to the growing demand from foreign buyers in key markets.
"Small investors are moving out of cash and deposits and into property, and this trend will probably continue in 2017. So 2016 was a year of positive news for the market in terms of sales, and 2017 should be more of the same assuming no nasty shocks", says Mark Stucklin, from Spanish Property Insight. "However, he continues, there are plenty of potential nasty shocks lurking around the world today".
We also keep our fingers crossed, Mr. Stucklin.
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