Solvia, the property division of Sabadell bank, has said that it believes average house prices will increase in Spain by 7.3% between now and 2020. The biggest rises are expected to be seen in regions where there is strong demand for property such as Catalonia and Madrid where prices are predicted to grown by 11% and 14% respectively.
Spanish bank, Bankinter, has forecast house price growth of 4% by the end of 2017 and between 4% and 5% in 2018.
Sales of property in Spain are expected to be strongest in the larger cities – Barcelona, Madrid, Seville, Alicante, and Malaga – where demand for property is high.
Homes are also expected to sell faster in Ibiza and prices are expected to rise according to global real estate specialists, Engel & Voelkers. Demand for high end property from international buyers is greater than supply with Germans topping the group of overseas buyers, followed by the British, French, Swiss, and Italians.
The post Banks predict growth in volume of Spanish property sales and real estate prices appeared first on The Leader Newspaper.