The Spanish housing market will strongly overcome the 'brexit'
The Spanish property market will remain strong despite the "yes" of Britons on leaving the United Kingdom of the European Union (EU) citizens.
Residential demand in Spain will grow to over 470,000 homes in 2017, 15% more than in 2015, and the price will increase between 3% and 5% annually over the next two years.
The vote in favor of brexit itself affect buying homes on the coast by British citizens, but not enough to weigh down the growth in demand.
The depreciation of the pound, which increases the cost of property, and other factors that discourage the purchase, as uncertainty about access to health care and pensions, reduced demand for British holiday home in Spain.
But the brexit not be an insurmountable obstacle for the property sector. Buyers UK account for 21% of foreign demand, although there is no reason to believe that citizens do not continue buying in Spain, especially because it is one of the safest countries in the whole Mediterranean due to instability in the Middle East.
The purchases by non-residents have increased steadily since 2010, reaching an increase of 24% in the first quarter of 2016. Even lower demand for luxury homes in London, as a result of brexit, you can divert part of the investment foreign to our country.
Investors are betting on the purchase of real estate assets in locations "prime" and consolidated areas, where new housing supply is limited. Pursue benefit from a rise in prices, resulting from the lower supply. They also expect to generate a return above 3% over a horizon of three to five years, according to Property Report July by Bankinter.
an annual increase of between 3% and 5% in the price of housing deck. This increase will be driven by a rebound in residential demand, which can exceed the volume of 470,000 homes by the end of 2017, 15% more than in 2015 and 5% more than the estimates for 2016.
Moreover, the promoter activity was reactivated as a result of strong growth in building permits and reducing stock to 500,000 properties.
The Spanish property market lives its best days since the economic crisis began. During the first half, sales increased 16.4% in cumulative terms, as point data from the National Statistics Institute (INE).
This surge in sales drinks, especially the transfer of used housing, which rose 24% in June and represent 82.1% of sales of apartments in Spain. While the sale of new homes is growing at a much lower rate of 2% in the sixth month of the year.
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