Costa Blanca Property for Sale
The Spanish housing market will strongly overcome the 'brexit' scenario
The Spanish property market will remain strong despite the "yes" of the British people on leaving the European Union (EU).
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 favour of Brexit itself, isnt affecting the desire of buying homes in Spain by British people, the level of enquiries is still strong and people are still driven to Spain for the weather, beaches, food etc.
But the Brexit issue is not an insurmountable obstacle for the property sector. UK Buyers account for 21% of foreign demand, although there is no reason to believe that people will not continue buying in Spain, especially because it is one of the safest countries in the whole Mediterranean.
The purchases by non-residents have increased steadily since 2010, reaching an increase of 24% in the first quarter of 2016, so the attitude of the UK people hasnt changed, they still want to move to Spain or have their own holiday home here.
Growth Prospects
Investors are betting on the purchase of real estate assets in prime locations, where the housing supply is limited. The demand and level of purchases can cause a lower amount of available properties, although with numerous nationalities owning property in this region, will mean there will always be new products coming onto the market. They also expect to generate a return above 3% over a three to five year period, according to July Property Report by Bankinter.
The Spanish property market is enjoying its best days since the economic crisis began. During the first half, sales increased 16.4% in cumulative terms, as per data from the National Statistics Institute (INE).
The current surge in sales, especially resale properties, which rose 24% in June and represent 82.1% of sales in Spain. Compare this to the new home sector, which is growing at a much lower rate of 2% in the first half of the year.
Complete Spanish Property, Costa Blanca Property for Sale.
Whether you are seeking a new build property or a resale, please contact Complete Spanish Property. We will gladly help you with everything you need. We offer an individual and personalised service throughout the buying process, from the initial visit of the properties through to completion and we also have a great after sales service.
Complete Spanish Property provides a relaxed outlook to the Spanish property market, to ensure an enjoyable experience for all of our client´s. We are passionate about Spain and property and this passion together with our integrity and customer service allow us to fulfil our client´s expectations.
