Spanish Property Prices on The Rise as Holiday Homes Crackdown Continues

‘Property sales and prices in Spain are forecast to rise in 2018 as long as there are no sudden economic surprises or changes to the mortgage market. Anticipa, one of Spain’s biggest real estate providers, expects sales to rise 9.3% next year to 526,000 units, up from 481,000 this year and 21% more than in 2016. It is also forecasting that prices will have risen by 6.9% by the end of 2017 and looking ahead to 2018 are set to rise by slightly less at 6.1%. Even with this rise they will still be 27% below the peak of the market in 2007…’. Property Wire has the report here. ‘Valencia City is well placed to benefit from the crisis in Catalonia, where political turmoil is turning foreign investors off Barcelona, at least for the time being. Like Barcelona, Valencia is a stylish, safe city with a good climate, great quality of life, lots of culture, and long white beaches, yet house prices are significantly lower than Barcelona. Catalan banks and some companies are moving their registered offices to Valencia, and jobs will follow. It’s time to pay closer attention to Valencia City’. Opinion piece from Mark Stücklin. From Spanish Property Insight, ‘Andalucía starts fining holiday home landlords’. Ibiza triples fines against ‘irregular’ holiday lets, says Hosteltur here. The BBVA loses a court case: ‘A firm ruling obliges a bank to repay the 175,000 euros of mortgage that had to be paid by a client for an apartment that was never built’. More here.

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