All data indicate that 2017 is being a good year for residential real estate investment in Spain. The known data from the first two quarters confirms the preexisting impression and it seems that positive feelings materialize. But let's look at some factors that lead us to conclude this:
The price of housing in Spain will grow throughout 2017 to reach increases of between 4% and 6%. Although the recovery of the residential market in our country is not assuming significant tensions on the price of housing at the national aggregate level, there are increases in new housing and in some local markets with strong demand and a very limited new housing supply.
Current levels of new construction are still far below previous cycles. In this sense, and driven by economic recovery, effective housing demand has intensified and new housing demand in Spain is forecast for the next two years to be between 120,000 and 140,000 units per year.
At the national level, the recovery of the sector has been reflected in the increase in housing production, as reflected by the increase in visas by 29% in 2016. Therefore, expectations for this year point to a growth in production of New housing that should lead to levels more in line with the existing demand.
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