Spanish Property Market Forecast 9.3% Growth in 2018

Spanish Property Market Forecast 9.3% Growth in 2018

Spanish Property continues its recovery 

It’s estimated that 526,000 properties will be sold in Spain during 2018 – an increase of 9.3% over the 481,000 home sales expected in 2017.

The anticipated growth will also bring in a nationwide average price increase of 6.1%, which is just under the 6.9% price increases from this year. Properties will still be affordable in 2018 however, as even with this anticipated 6.1% price increase average Spanish property prices will still be a good 27% below the peak from 2007.

The data comes from Anticipa, one of the leading real estate providers and analysts in Spain. The firm compared the projections for next year against the performance of last year – 2016 – and found home sales increased 21% between 2016 and 2018.

This is an impressive level of growth, especially when set against the crash in Spanish property less than a decade ago, not to mention the following economic problems Spain has had, including a recession.

The analysis for 2017 comes from the fourth quarter projection that home prices are set to increase 5% during the final three months of 2017.

What’s most exciting about the forecast is the calculation that over 520,000 homes will be sold next year. This would mark the first time that over half a million homes have been sold since 2008, which is nearly double the figure from 2013 when only 285,000 homes were sold. 

While the forecast for next year is still around 42% less than the record 900,000 homes sold in 2006, it’s built on a solid foundation unlike 2006 when the credit bubble was set to burst at any moment. 

Spain to Introduce Universal Carrier Bag charge in 2018

Spain to Introduce Universal Carrier Bag charge in 2018

Spain is already used to supermarkets charging for

bags so this new levy is welcomed

For all the progressive values that Spain embodies – such as consistently voting for left-wing Prime Ministers, being among the first countries to legalise gay marriage, and opening its arms wide immigrants and expats the world over – the country has been less than progressive when it comes to environmental issues.

Even though Spain is one of the sunniest countries in Europe, its relationship with solar power has been complicated at best. There has also been a lack of political support and public awareness of recycling compared to much of Western Europe.

The Environment Ministry of Spain is ready to change all this though, and plans to start with the checkout. Environment Minister Isabel Garcia Tejerna announced that shops in Spain will no longer be allowed to hand out free plastic bags from the 1^st of January, 2018.

There will be a levy charged on plastic bags from that date, with some bags costing as much as 30 euro cents. Some Spanish supermarkets areal ready charging between 1 and 5 cents for small carrier bags, but there’s never been a national decree that every shop in the country should do so until now.

This kind of scheme was launched recently in the UK, complete with a little controversy and discomfort. Most people have accepted the change and see it as a success now though, with plastic bag usage falling 85% since October 2015. Brits have already adjusted and reformed their habits.

Other countries – including Germany and Denmark – have been charging for carrier bags for a long time now. Citizens in these countries almost always keep a “bag for life” handy to avoid paying the charge.

Spain might be somewhat late to getting in on the party, but the country is still within the time frame set by a directive from the European Union in 2015 compelling EU countries to reduce their waste and use of plastic. Charging levies isn’t necessarily instructed by the directive. Instead it gives countries until 2020 to bring plastic bag usage down to 90 bags per person. Studies into the matter showed that a carrier bag charge was the easiest and best method to encourage a change in behaviour.

Spain isn’t the worst offender in the EU when it comes to using plastic bags. Data shows some 87% of Spaniards head to the supermarket with their own shopping bags.

Even so, the country used just under 5 tonnes of plastic bags in 2014, which is around 158 million bags each year. This works out at around 133 carrier bags per person per year. Most of these bags weighed up to 29 micrograms, making them a little more stable than the carrier bags you’d find at a gift store or supermarket. These sturdy bags are the ones that will come with a 30 cent cost, with the price decreasing as the weight and sturdiness of the bag decreases.