• Outlook 2014

    spain

    The average price of resale property in Spain stood at 1,704 euros per square metre at the end of 2013, which is 9.7% less than in 2012, according to pisos.com. The real estate portal indicated that the property sales which were closed during the past year were carried out mainly by solvent buyers not in need of financing, and foreign investors, who have returned to the market with the intensity of before the crisis.

    Meanwhile, the company stated that domestic demand “is still suffering from the mortgage clampdown”, but added that “it is expected that in 2014 the banks that have already regained some control of their balance sheets will return to lending money.” “Only in this way, can the housing market get back on the road to recovery.”

    In this dynamic, the portal expects that the declines in house prices will be less intense in the coming months, and even believes that in consolidated areas with guaranteed profitability, prices will remain stable, without ruling out “some small increases”.

    Categories: General

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