The Spanish property market continues its recovery in 2018.
According to experts, the recovery of the real estate sector, one of the most affected during the crisis, influenced by the new growth momentum of housing prices and the increase of permits granted for new construction.
Average property price this year will increase by 5% - 10% compared to the previous year, and the number of transactions for the purchase will reach half a million, which is higher than the end of 2017. Experts also note that housing prices this year are still 40% lower than during the real estate boom. Leaders of transactions of purchase and sale are Madrid, Barcelona and the Islands. They take the initiative and pull prices up. In the North the prices do not grow so quickly and can not be traced most of the activity in transactions.
Also, experts note that the secondary housing market in 2018 will support growth of real estate prices. This year the rental market will continue to grow. According to real estate portals, rental prices increased by 18% compared with the 2017 year. However, in Barcelona, rental prices fell by 2.4% after four years of growth.
Experts believe that the growth trend is due to the fact that all small and medium investors in the last three years decided to transfer their savings from Bank accounts to the apartments to bring them on the rental market and increase the profitability of their own funds.