The forecast for 2018 is that property sales and prices in Spain will continue to rise, as long as there are no sudden economic surprises or changes to the mortgage market.
One of Spain’s biggest real estate providers, Anticipa, expects sales to rise 9.3% next year to 526,000 units.
Over the fourth quarter of 2017, prices for resales and new builds are expected to continue to increase by 5.8%, said the firm in its latest real estate market report, allthough this was compiled before Catalonia declared independence and the national Government took over the administration of the region.
Mark Stucklin of Spanish Property Insight, pointed out that the company’s forecast for 2018 is 85% higher than the nadir of 2013, when only 285,000 homes were sold in Spain. Nevertheless, the report shows that the market is still 42% below its peak of over 900,000 sales back in 2006, before the crisis.
Forecasts could be affected by what will happen in Catalonia with the bid for independency from Spain. The region is considered as the wealthiest in Spain and its capital Barcelona has seen some of the highest property price rises this year.
In fact, with the Madrid Government controlling now the regional government and before the elections on 21st of December there is now a state of wait and see.
Here at Next Door, we believe that the political situation in between Spain and Catalonia is not going to worsen and the property sale for 2018 is set to increase steadily, also supported by the country’s economic growth.
Also check our article:
Market’s indifference to Catalonia-Spain debate: https://wordpress.com/post/nextdoorbcn.wordpress.com/76