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FT says Spanish Property market has turned a corner

According to The Financial Times, investors have recognized that activity in the Spanish economy is growing. Many investors have abandoned their cautious approach and are making property investments in Spain once again.

Estimates vary but it is probably fair to say that the Spanish Property market fell by over 40% during the credit crunch. Some property commentators are now saying the market turned in 2014.

Others claim that the Spanish property recovery was first felt in the Marbella area in 2013 and later spread to Costa Blanca.


The economy some two years later is moving from recovery into a growth phase. This is evidenced in a wide range of economic activity and most regions of Spain including the Costa Blanca.

Retail chain Grupo Lar.Pereda confirmed that sales across its stores have been up 9.2% in 2016 as consumer confidence grows across the country.


Spanish property has not only turned a corner, says the FT, but is flying as the economy


Property prices in Madrid have risen by 7%. Barcelona property prices have risen 9%. These figures are provided by the Spanish National Statistics Institute.

Commercial property has also grown with the economic recovery.  CBRE calculated investments in 2015 at €13 billion.

Residential property sales have increased in excess of 10% growth for over 12 months. This has also stimulated increased demand and rising prices.

 

Posted 14/12/2016

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