WHILE recovery is expected to be slow but sure for the Spanish property market, certain areas including the Costa del Sol are likely to see significant property price increases next year, a new report has concluded.
Acuña y Asociados real estate consulting firm’s Spanish Real Estate Market Annual Report has predicted that prices will now stabilise in most parts of the country yet popular areas including the Costa del Sol, Valencia, Madrid and Barcelona are likely to see increases of between 3 and 5 per cent.
Prime areas like Marbella, the firm predicts, may well see even bigger increases.
Following seven consecutive years of price drops, 2014 saw an inflexion point in the cycle and this year and 2016 will register modestly positive results, Acuña’s report revealed.
Although large international investors, the report said, are waiting to see what this year’s national elections bring before continuing with major projects, 2015 will certainly end with better results in the market and as banks start to provide more mortgages the general outlook is good.