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July 2, 2014

Forecast value of real estate in Spain

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Forecast value of real estate in Spain

According to the evaluation agency Tinsa, the real estate prices will stop falling in Spain at the end of this year.

Also, experts of the agency say that in 2015 the country will face a second cycle of recovery of real estate sector, which will put an end to the negative development of this sector of the economy. In addition, at the end of the current year will be registered real estate sales growth of 15 to 25%. More other, Tinsa estimates that in Spain there are 400,000 residential properties in stock, which can be sold by 2017.

 

Every week in Spain appears a new market research, which predicts that the cost of housing in the country is to stop its decline in the near future. Thus, the evaluation agency Tinsa claims that real estate prices will stop falling in Spain at the end of this year. At the same time, Tinsa avoids predict accurate data on whether it would be recorded in 2015 an increase in property value. According to the report evaluation agency of the housing market in Spain and on the Spanish coast, in 2015 the country is on the verge of a new stage of recovery sector. But general sales manager of Tinsa, Iñigo Valenzuela, gives no further information about whether or not to expect in the 2015 general rise in prices of real estate.

According to him, although it is still early to make risky predictions, exist already the “positive” data of real estate market, which suggest that in late 2014 the annual decline in the value of property will be “zero”. Thus, Iñigo Valenzuela notes that in May of this year, the annual decline was 4% and that the data for June show that the fall will be even more. Average cumulative decline in property prices in Spain is, however, about 40%, while on the Mediterranean coast it reached 50%, while in large cities and metropolitan the price reduction is 45 and 43%, respectively, and on the Spanish islands – 29 %.

Demand for new housing in 2014 and 2015 in average is about 100,000 objects, provided that the labor market is stabilizing, according to general manager IñigoValenzuela. Meanwhile, he recalled that the stock of unsold homes since 2001 is about 400.000 objects in Spain, and is expected to increase each year at 100,000 units. But Tinsa evaluation agency believes that in 2017 this stock may be sold, which should be accompanied by the promotion of new housing, which, in turn, is due to start in 2015.

 

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