November
Prices Remain Stable in Popular Regions of Spain
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| The Costa del Sol enjoy the recover better than others |
The Canary Islands and the Balearics were as popular as ever
with prices slightly increasing, as well as increases in Murcia and Andalucía.
However the average price for property in Spain fell 1.1% in November over
October. Experts agree that this could be a seasonal dip and is very small.
While there has been some uniformity in Spanish property
price trends – as prices are generally on the increase – the demand for
property is different for some regions. The prices for homes in Castilla-La
Mancha for example went down by 1.5% in November. There was also a 1.3% price
drop in Catalynya, but there was an average price increase of 1.7% in
Barcelona.
The Costa del sol has always been the most popular and robust region in the country for property, with the average price for property
increasing in November by over 1%.
Even though there were some slight dips in property prices
for the less popular regions of Spain the year as a whole has been great for
the property market in Spain. The amount of homes sold has gone up each month
and there are more foreign buyers than before, as well as the younger
generation in Spain entering the property market thanks to an improved job
market and mortgage availability.
The economy minister of Spain Luis de Guindos spoke about
the recovery of Spain, saying that the country has the advantage now that the
political uncertainty has finally ended. The data would certainly seem to back
these claims as GDP could reach 3.2% in 2016. Unemployment is also improving
and is down to 18.9%. The government that was behind the economic recovery of
Spain in the first place is back in charge and ready to keep the course steady.
The president of the Spanish banking association AEB, José
María Roldán said that the measures taken during the crisis are really paying
off. There are a lot more jobs and the cost of living has stay low with growth beening strong, showing how
effective the reforms have been. Mr Roldán added that the country needed to
maintain their course as repealing and reversing the reforms would be suicidal
for the country.
