The recovery will roll on next year say Servihabitat, the largest real estate servicer in the Spanish property market.
This year will close with just over 400,000 home sales, up 26% compared to last year, and sales will continue rising next year, by 14.5% to 460,000, say Servihabitat – the real estate servicer of La Caixa Bank.
House prices will end up 2.6% higher this year, and then jump 6% next year, they argue. The sector is “registering a gradual process of normalisation, with an increase in the volume of sales and a progressive appreciation of house prices.”
Those are the principal conclusions of the latest market report from Servihabitat, ‘The residential market in Spain: Present situation and perspectives’.
The Canaries, Madrid, the Basque Country, and La Rioja are the regions that will register the biggest increase in sales next year, all above 20%, forecast Servihabitat.
They also forecast that holiday home apartments most in demand will have one or two bedrooms, and between 50m2 and 65m2, so significantly smaller than main homes. The most active holiday-home markets are in the Costa Blanca, Costa del Sol, Balearics, Canaries, and some parts of the Costa Brava.
Servihabitat is the biggest real estate servicer in Spain, with €59 billion in assets under management.