Posted on June 13, 2016 in Property
The market survey and research platform launched by Servihabitat, Servihabitat Trends, recently published their second edition of a report on the “Residential Market in Spain”, which analyses the evolution and forecasts of the Spanish real estate sector, and provides a comprehensive vision of the housing market’s situation in 2015 as well as forecasts for the end of 2016.
According to the study, the housing market in Spain is recovering at a moderate yet sustained pace, due to the fact that certain regions showed clear signs of recovery in 2015, and a significant improvement is expected to continue this year.
Among the main conclusions of the report they state that the number of housing transactions remained stable throughout 2015, and that a 10% year-on-year increase is expected in Spain in 2016, reaching a total of over 440,000 homes sold.
The new housing stock of unsold homes will continue to decrease in 2016, dropping by 25% from 492,000 homes last year to 367,500 at the end of this year. In light of this situation, the report indicated that production maintained an upward trend in 2015, and forecast that new approved projects as well as those started and completed will show a two-digit increase in 2016.
Moreover, the study also confirms the consolidation of rising housing prices, saying that they are expected to rise by an average of 3.8% throughout the country between now and the end of this year.
The importance of the number of foreign home buyers in Spain was also highlighted in the report. Specifically, the report noted that, in 2015, some 13.9% of home renters and 17.2% of home buyers in Spain were foreigners.
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