Tuesday 16 May 2017

Leading Experts Confident in Health of Spanish Property Market

Leading Experts Confident in Health of Spanish Property Market


The next few years look very promising as the Spanish property
market continues to grow from strength to strength.
With more new homes being built, more homes being sold, and all the growth, some people were sceptical that the property market could continue into the long term, even though the early signs suggested the recovery was as sustainable as it was steady.

Now some leading analysts of the Spanish property industry are now speaking of their confidence in the health of the property market, and that it wasn’t another bubble about to burst. The latest data on house prices for March shows property prices across the country have risen between 1.8% and 4.5%. This regional variation is the driving force behind the confidence in the long-term health of Spain.

Real estate expert Mark Stücklin analysed the data from the Tinsa index. His analysis led him to the conclusion that average asking prices are very healthy right now, and are showing no signs of overheating.

He added that the Balearics is the only place where the higher price increases – as much as over 4% - are an outlier. The reason for this is that there is less landmass there, meaning there is less property and higher premiums.

The mainland of Spain is much more sober market – a fact agreed on by the Bank of Spain. Juan Antonio Gómez-Pintado – the head of the Spanish Developers’ Association – said the recovery is “normal” thanks to the average price increase of 3% in February over last year. To contrast this, a 3% gain would have been considered a small growth for a month back in the peak of the property boom in 2006.

The market this time is much more stable, secure, and attractive.