The Future Looks Bright
Most experts and official bodies now agree that the Spanish property market is set for a continued moderate and sustainable recovery during the rest of 2016 and perhaps also into 2017. The sale of homes will most likely rise by about 10% in 2016; new-builds will rise by 10-12.5% and the number of new homes on the market will fall by about 25% as the industry tries to balance the supply and demand. New homes are concentrated in areas where there is low demand while in cities like Madrid, the Balearics and Barcelona where there is a high demand there is a continued shortage of new homes. Prices are also set to rise by about 3.8% over the course of 2016 with the highest increase in prices concentrated in the Balearics, Valencia, Catalonia and Madrid. In Catalonia prices are predicted to rise by 4.4% over the course of the remainder of 2016.
