What Can We Expect For Spanish House & Property Market in 2016?
It seems that the Spanish House and Property Market has proven itself to be a tough opponent when it comes to unfavorable global economic conditions over the last couple of years. According to the leading Spanish property analysts, this market was able to maintain a steady price rise of 1% in the previous year. This may doesn’t seem as much, but we shouldn’t forget that any positive result is more than welcomed and appreciated. It goes without saying that as long as there’s a price increase both the property ma rket and owners who can offer homes for sale in Spain have every right to be optimistic. Having in mind that the impact of the 2008 recession is still present each and every Spanish property for sale that yields a rewarding price is definitely a good sign of recovery. As expected, prices of homes for sale in Spain’s biggest and most attractive cities, such as Barcelona and Madrid have shown a promising growth of 5.8% and 3.3%. In addition, we should mention an impressive increase of 2.7% for the Balearic Islands, as well.
Brits strongly favor Spanish property for sale!
Brits obviously appreciate the Spanish House and Property Market with an encouraging market share of more than 20%. The silver medal for the most active buyers of homes for sale in Spain is reserved for the French who account for more than 8% of total sales. When it comes to other EU countries catching a property wave in Spain, we should mention Germany with 7.5% and Belgium with 6.5%. On the other side, both Swedish and Italian buyers are doing just fine with 5.5% and 5.3% respectively. As we all recall, the Russian buyers were among the most influential factors of Spanish property for sale price increase. Yet, 2015 was definitely not their year. We have only 4% of Russian buyers compared with the record 8% from 2014. It is not sure whether or not a new Russian investment wave will hit the Spanish property shores in the near future.
Property Prices in Spain Set To Increase Additionally in 2016
If you can manage to maintain the increase in property prices despite the most recent depression and lack of generous Russians, then you really have a special market. This just couldn’t be more truer for the Spanish property market in 2016. All leading property indicators for Spain are green. However, this optimism has to hold its horses. 2015 is often described as the “year zero” for the Spanish house market after a turbulent period of “la Crisis”. Spain needs to make sure that its property market is moving in the right direction in the years to come. Are we going to witness the double-digit rise in Spanish property prices in 2016? This is still left to be seen.