A big majority of Spaniards think now is a good time to invest in property, if only they could.
71% of Spaniards think this is a “good time” to buy property, according to a new study by Solvia (a bank real estate servicer) and Kantar TNS, a research company that has developed a an index to measure investor confidence in Spanish real estate.
The index, based on a survey of 1,000 people, goes from zero (most pessimistic) to two hundred (most optimistic), and currently stands at 112, suggesting Spaniards are now reasonably optimistic about real estate as an investment. A few years ago, pessimism reigned.
Reasons cited by respondents for their positive view included the fall in prices during the crisis, the idea that property is a good investment, and a market that now offers “real opportunities.”
But when surveyed about their own financial circumstances, respondents were largely pessimistic. 61% said now is a bad moment for them to afford a property investment. Precarious employment and low savings were the main reasons given.
When asked about property prices, 35% said they thought there were rising, 43% said they were stable, and 22% said they were still falling.
Solvia has a lot of property to sell, so you could be sceptical about its agenda. But if this survey presents a fair picture of reality, then the majority of Spaniards think this is a good moment to invest in property, and a similar majority say can’t afford to.