Both Price Waterhouse Coopers and the Urban Land Institute have predicted that the outlook looks positive for the Spanish property market in 2018.
In a report entitled “Tendencies in the European property market in 2018” which is produced in order to identify the European countries which are likely to be most attractive to investors in 2018, PwC and the ULI have agreed that the frecast for Spain is at least as positive in 2018 as it was in 2018.
Despite the political uncertainty in Catalunya the national economy of Spain is expected to grow and demand for housing is expected to increase due to continued low interest rates.
Analysts have recognised that property prices are still a long way off their 2008 peaks where the average value of land was € 2.100,00 per square meter before falling to its lowest of € 1.456,00 per square meter (according to the Spanish Ministry of Development). There has been a steady recovery since 2008 but the average price of land is still only valued at € 1.540,00 per square meter.
Both Tinsa and the BBVA bank are expecting the value of land to increase by at least 5% in the next 12 months as the Spanish economic recovery begins to take its hold in more parts of the country.
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