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There is no sign of a slowdown in the Spanish property market, says the Bank of Spain.
Over the past 12 months the Spanish housing recovery has gained momentum with house prices and house sales maintaining an upward trend; in March three out of four indices reported house prices to have risen by between 1.8% and 4.5%. Read more »
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Spanish property sales reached 35,610 in February, representing an increase of 1.2%, compared with the same time in 2016, according to the latest residential property sales figures published by the government.
Although the is the second smallest increase in the last year, the running total of property sales in the last 12 months is at its highest level it has been in 6 years, meaning the market is still growing but at a much more sustainable rate. Read more »
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A decrease in the construction of new infrastructures in Spain could drive growth in residential property construction this year, property experts anticipate.
The Spanish construction sector was left devastated after the economy crashed in 2008, leaving many public infrastructures incomplete or failing to get off the ground.
However, experts in the property sector believe that a decline in public works spending will push developers into residential property construction projects, now that the new-build market is recovering. Read more »
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As the UK leaves the European Union experts and analysis in the Spanish property sector are left wondering if it will have an effect on Brits buying property in Spain or whether it will just be business as usual.
The British Prime Minister, Theresa May, triggered Article 50 this week, formally telling the 27 remaining EU member states that the UK is leaving the European Union. The country now has two years of negotiations ahead of them, meaning it will be difficult to get a definitive answer on whether Brits will continue to buy Spanish property. However, latest data shows that European interest in Spanish property is growing and may well outperform the UK market whilst Brits adopt a ‘wait and see’ approach. Read more »
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Spanish home-builder Neinor Homes is to float on the Spanish stock market this month, marking a renewed confidence in the Spanish property sector which is continuing its path to recovery.
Neinor Homes, based in Bilbao and backed by U.S private equity firm Lone Star, specialize in acquiring land for development. It already has over 160 developments and more than 9,000 homes on its books, with a total value of €1.12 billion, according to Savills real estate valuation. Read more »