According to the latest Spanish property market report from the real estate servicer Anticipa, a company that manages and sells large real estate portfolios, Spanish property sales and prices are expected to have increased by 9.3% and 5.5% respectively by the end of this year.
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The report, which covers the period 2016 – 2018 also forecasts that property sales transactions will reach 454,000 representing an increase of 8% in 2017 with a further 6% increase to 480,000 sales the following year.
Attributing recent government reforms and the loosening of policies of the European Central Bank, the repost confirms the widespread belief that the Spanish property market is very much in recovery mode. Whilst these figures would mean an increase of 20% in property prices by 2017 compared to those seen in 2013, the report points out the market is still a long way off price and sales levels seen during the boom period.
With the number of real estate transactions at less than half of those seen pre-crisis and property prices at 24% below 2007 figures, the increases we are currently seeing are much steadier and crucially therefore, much more sustainable.