The prices continue to increase in Spain
Experts Predict 10 Property Sales
Increase of 10% for Spain
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| The prices continue to increase in Spain |
Summer is reaching its peak and bringing optimism with it,
especially to the Spanish property market, which has already performed excellently
this year.
There is so much positivity and confidence flowing through
the Spanish real estate industry that the Spanish bank BBVA has predicted 2017
will see an increase in property sales of 10% compared to last year.
Most notable is that BBVA believes over 500,000 Spanish
homes are going to sell during 2017, surpassing the annual threshold that
hasn’t been surpassed since before the economic troubles began in 2007.
A performance like this would break the positive forecast
put out by the bank at the start of the year – in an upturn created by how well
the Spanish economy is recovering on practically all fronts.
BBVA are also expecting a 3% increase in the average
national price. The bank stated in their last report that the typical price-per-square
metre in 2017 will increase to €1,570, which will bring prices to the same
level of 2004. Unlike 2004 however, there is a much bigger regional variation;
as prices in places such as the Costa del Sol, Madrid, and Barcelona are
expected to be much higher than average.
Official notary data released in May shows that the average price of properties was €1,318 per square metre, which would mean that
additional monthly price increases are likely to happen before the country
reaches the estimate from the BBVA.
