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Property Market Predictions 2017

Experts in the Spanish property market predict that 2017 will be a good year for all. There is a high demand for Spanish property from international buyers and this is predicted to remain. It the foreign buyers continue to favor Spain then the Spanish property market will prosper this year. It remains to be seen if the British buyers (who make up the lion’s share of foreign property buyers in Spain) will be more cautious of foreign investment following the surprising result of the Brexit referendum.

2016 was a positive year for the Spanish property market with modest but steady price rises. It is likely that buyers will be looking for property in cheap locations in 2017 as all potential investors still want a bargain. As Britain enters the formal two year period for exiting the EU and as France and Germany face elections, European buyers may surprise the Spanish property market punters for better or worse – it remains to be seen. With the Spanish property market reaching a turning point in 2016 as it asserted itself as truly being on the road to recovery the market saw buyers looking beyond the obvious choice locations.

Positive elements which will contribute to the Spanish property market’s continued recovery include the growing Spanish economy, a drop in unemployment figures in Spain (so more locals will be able to afford a home), low mortgage costs, a continued strong rental market and capital appreciation.

On the down side Brexit may affect the foreign buyers in Spain and the weakening British Pound may also deter British buyers. As Britain leaves the EU potential buyers from other countries who may have wanted to buy in the UK will be forced to look else ware. This may have a positive effect on the Spanish property market. At the moment Brits make up about a fifth of the foreign buyers market in Spain followed by French buyers who buy half the number of homes in Spain. Other emerging markets include US buyers and buyers from the Middle East and Far East. With so many other foreign buyers the British hesitation to buy following Brexit may not affect the market at all.