prices
prices

The second biggest bank of Spain, BBVA, has in its latest report forecasted that Spanish house prices will continue to increase through out the rest of this year.

In the first half of 2016, there has been a rise of prices, sales and building activity, which has stimulated the demand. After a positive first half of the year, the market will continue recovering thanks to a record number of tourists and to favorable mortgage conditions. Furthermore, this will boost the demand for holiday homes on the coast side of Spain.

In addition, BBVA expect the demand for housing to grow stronger, and that the new homes glut will have a gradual disappearance. This will mostly happen in big cities and coastal regions, such as Costa del Sol and the Costa Blanca.

BBVA is forecasting a more significant growth of residential development this year. The latest figures from notaries indicate that building land transaction were up 82% year on year in the second quarter of 2016. This is a clear sign of a growing home building industry.

 

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