Another prosperous year for the Spanish property sector has come to a close, with the nation seeing a rise in property prices across every single region.
Many experts acknowledge that 2016 was a great year for the real estate market in Spain, and now predictions are being made about the direction of the sector this year.
Demand from international buyers from the UK, United States and other countries has raised the value of properties throughout Spain, and this – among other reported trends – could boost property values even more in 2017.
Many positive forecasts for this year
Most key Spanish property market observers have indicated that they expect a rise in average prices in 2017, with both the Spanish Association of Value Analysts and appraisal company Tinsa suggesting increases of as much as 2%.
Spanish consulting company R.R. Acuna & Asociados has predicted a similar outcome, claiming that growth could increase from 2.3% in 2016 to 5% or more in 2018, with that rate of growth being maintained for the remainder of the decade.
Foreign interest also looks poised to increase throughout the year, even after the Brexit vote negatively affected the pound for UK residents. US interest is predicted to continue growing, but UK investors and homebuyers may largely wait until the terms of their country’s departure from the EU are finally agreed.
Tinsa has also forecast an increase in property sales of between 10% and 15%, as well as a rise in the number of new mortgage signings by 5% to 10%.
This could be your year to get a foot on the property ladder
Spain is quickly becoming one of the hottest property markets of which to be a part. Purchasing a property in Spain today could see it increase in value exponentially over the next few years.
Here at Winkworth, we play our own part by advertising houses for sale in Costa del Sol that are both great investment opportunities and gorgeous homes, with full access to the rest of Spain.
For more information about our currently advertised properties or to learn more about the assistance that we can provide in your search for the ideal Spanish home, please feel free to get in touch with our professional and responsive team.