Experts forecast real estate market of Spain to see a growth till 2025
The real estate market in the Costa del Sol and Spain is set to see a 40% growth within the next ten years, opined an expert.
With the prevailing trends, the growth trends can be expected up to 2025 as per forecasts from Jose Luis Suarez, who is a professor of financial management at the IESE Business School.
After considering the existing property trends, Suarez said that the appreciation of property prices are certain for the next decade and it is similar to the trends exhibited by the real estate before it reached a new high in 2008, just before it crashed.
The professor predicts that the property price will go up by 40% by 2025, as Spain is a hot destination for property investments.
The demand for houses in Spain will go up and nearly 100,000 houses will be added every year until 2020, following which there will be an addition of 140,000 houses annually till 2025.
This time, the property hype is controlled and is not like the last time, with investors keeping it realistic and not expecting quick returns from the market. The increase in property prices for the first quarter in 2016 stood at 6.3%.
Suarez indicates that it is a bright season ahead for the housing industry after a lean period in 2014, where only 50,000 houses were added, unlike the peak of 800,000 houses back in 2008 before it all crashed.