5% Increase in Price for Spanish Properties Predicted by CBRE
Real estate experts CBRE believe that Spanish house prices
could rise by up to five percent on average during 2016. More houses are being
sold and built which is bringing up house prices.
CBRE annually release a Real Estate Market Outlook and their
most recent one highlights a series of positive indicators for the residential resale housing market in Spain. Their report has found that more homes will be sold
and built leading to less unsold properties in Spain over the whole year.
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| Great news for sellers as prices are expected to rise |
The main thing to come out of the report is the expectation
that the average house price in Spain will rise by 5.9% on average with a 6.3%
peak rise in the third quarter.
CBRE also expect that 20% more properties will be sold in
2016 over last year, putting power behind the claim that the Spanish property
market has recovered.
One area of the market that hasn’t seen this increase yet is
the new build sector. Even so CBRE are confident that as many as 60,000 new
homes could be built in 2016, which would be an increase on the 45,000 homes
built in 2015. This is still less than the previous peak of 160,000 homes per
year though.
The trends are still positive and point to plenty of growth.
Madrid, Barcelona and Costa del Sol property in Andalucía for sale have always been the most prominent parts
of the real estate market and this year they will be joined by Bilbao,
Valencia, and Malaga as the demand for property has gone up in these cities.
The CBRE does have some warnings though. The main problems
are the slightly decreasing population of Spain, a lack of confidence in
buyers, and an economy that is still fragile. These should temper the optimism
that people feel but this report, when taken with other studies and statistics
from Spanish real estate institutes, serve to add to the belief that property
in Spain has become a good investment once more. Now is the time to buy or sell your home in Spain as more buyers and investors are fuelling the market.
Spanish Properties prices are increasing
Spanish Properties prices are increasing
