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Spanish Property Sales Expected To Rise By Over 10 Per Cent In 2016

By Mas Property

on Thu Apr 28 2016

Spanish property market analysts from KPMG, Deloitte, N+1, and PwC have forecast that this year Spain will register around 440,000 home sales, which would represent an increase compared with last year of between 10% and 12%, with transactions amounting to a value of over 20,000 million euros.

Last year’s turnover was 18,000 million euros, and Amparo Solís of KPMG expects a 2 billion increase in 2016. Alberto Valls of Deloitte adds that there is currently high demand for investment properties at low prices, and this demand is heightened by the low interest rates which make mortgage financing more attractive than ever. Despite this, though, of the 400,000 sales made last year only 60% were financed by means of mortgage loans, indicating that cash buyers are also in abundance.

Other factors which are identified as being conducive to market growth include general economic growth and decreasing unemployment figures.

At the same event, Jaime Bergaz of PWC’s Portfolio Advisory Group stated that in the first four months of 2016 transactions worth 14,500 million euros have been agreed and expects the average value per sale to increase significantly, although like many analysts he warned that the continuing political uncertainty in Spain could yet have a negative effect on the market.

Source: KPMG, Deloitte, N+1, and PwC, April 2016

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