Property sales transactions and prices will continue to rise in 2018, according to latest forecasts. Anticipa, one of Spain’s biggest real estate providers expects sales to rise by 9.3% next year to 526,000 units, up from 481,000 this year and 21% more than in 2016.
Spanish property prices will have risen by a total of 6.9% by the end of this year, and are expected to rise by slightly below that, at 6.1%, which is still 27% below the peak of the market in 2007.
While the Anticipa real estate market report was compiled before Catalonia declared independence, the firm predict prices for resales and new builds will also continue to increase by a total of 5.8% over the fourth quarter of this year.
Mark Stucklin of Spanish Property Insight, pointed out that the company’s forecast for 2018 is 85% higher than the nadir of 2013 when just 285,000 homes were sold in Spain. The market is still 42% below its peak of over 900,000 sales in 2006, but shows a much steadier growth.
Building completions on new homes in Spain will also be well below their peak reached in the boom years. The report expects a total of 63,400 in 2019, compared to 62,900 in 2017.
Forecasts could be affected by what happens in Catalonia regarding the region’s bid for independent from Spain. The region is regarded as the wealthiest in Spain and its capital Barcelona has seen some of the highest property price rises this year.
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