Spanish Property Market May 2016

Let’s face it; the Spanish lifestyle is hard to beat. The relaxed and easy going approach, the climate and the wealth of tasty tapas are just a few of the attractions that lure in foreign buyers. Notwithstanding the range of exceptional properties affording these luxuries such as those situated on the beachfront, on the golf course or central city properties with a variety of restaurants at your doorstep. The current Spanish property sector invites you to enjoy fantastic new projects as well as offering a strong re-sales market, thus the market forecast for this 2016 looks very strong following the positive economic data, rising exports and increase in tourism that were prominent at the end of 2015.
BBVA, Spain’s second largest bank, confirm the market prediction having recently reported that both house prices and sales will rise this year; the former by 3% and the latter by as much as 10%, having evaluated statistics from the first quarter of the year. Should this hold true, it is estimated that there will be a total of 440,000 transactions to be carried out in 2016 with a total investment of more than €20 billion. Indeed, there are no alarming reasons as to why the recovery in sales should not stay on track. The current economic climate is certainly the driving force, as confirmed by Alberto Valls, the Financial Advisory partner from Deloitte, who explained that consumer demand is being fueled by rising economic growth, employment, and attractive financing. The report also shows that interest in buying land in Spain is attracting attention by investors, resulting in a rise of land purchases and therefore the construction of new property also. It is hoped that new construction licenses will rise by about 30% this year.
The Costa del Sol remains an attractive and secure destination for investing in real estate. Indeed, strong recovery becomes growth, most notably in cities such as Marbella where the attractive lifestyle supplies constant demand. Naturally, demand is always strongest for beachside and golf properties (of which we offer exhaustive portfolios), though the clear trend is contemporary apartments. Modern and elegance are this year’s trends. Contact our team today to discuss your options. We are sure we have the house that you are looking for.