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Spanish Property predictions 2019

Check back next year to see how many come true. 

1. Stronger sales in Murcia province due to the opening of Corvera airport. 

2. Stronger sales in Valencia city as people look beyond Madrid and Barcelona.

3. Brexit – UK reaches a EFTA deal agreement and a reciprocal healthcare deal with Spain. Spanish property market gets a boast from increased sales to Brits. I expect this to be on the table by early Feb.

4. Euro – on the back of the EFTA Brexit deal, GBP rises to between 1.2 and 1.3

5. Property sales commissions continue their downward trend as fixed fee and low commission agents increase their market share. This makes income from cross selling opportunities such as currency, insurance, security systems and intelligent home systems even more important.

6.  An inter-annual property price increase 5 – 7%  on average across the country.  With prices rising above average in areas of interest to international buyers and investors. 

7. Banks struggling to shift very low quality properties even at heavily discounted prices. Indicating that some areas of some cities should be demolished to make way for redevelopment. 

8. The city of Cartagena, Murcia will see increased investment in people buying up properties in the old town and tourism will increase, due to more cruise ships stopping there in 2019.

9. Property sales volume will increase YOY by 4 – 7%

10. Property buyers move to mobile increases. Clients get ever more tech savvy and the need for Estate agents to move with the times increases.

11. Negotiation margin to drop.  Vendors less willing to accept lower offers. 

12. Collaboration between agents increases. More agencies waking up to collaboration.

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5 things to bear in mind

Shoes on a wire. – You may have seen shoes hanging over a wire before and wondered what it means,  Well, it can signify that drugs are sold in the vicinity. So bear this in mind if you are being shown a property in an area where you see shoes on a wire.


Urbanistic Infraction – This means that there is a problem with the legality.  If an agent shows you a property with one of these signs outside it. Don’t view the property and choose another agent. AVOID! AVOID! AVOID!

 

 

 

 

 

Bottle bank too close to the property.  It’s not uncommon for these things to be emptied in the early hours of the morning and for them to be filled late at night when restuarnats and bars close. They are very noisy and will disturb your sleep.

 

 

 

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Property price rises accelerating

It’s not just the

The TINSA 2018 second quarter report predicts a national interannual price rise of 6.6% but there are significant variations

The average price in Spain * stands at € 1,328 / m2 and has grown b 10.9% since the first quarter of 2015.

House Price revovery continues

Despite everything, housing remains at 35.2% below the 2007 level. Madrid’s capital has been revalued by 41.8% and Barcelona by 48.8% since its minimum prices touched in the crisis.
The finished housing (new and used) in Madrid is 18.9% more than a year ago and stands out with the largest interannual increase among the capitals in the second quarter, followed by Malaga (+ 15.8%) and Palma de Mallorca (+ 12.9%). They also recorded increases of over 6% in the last 12 months Pamplona *, Valencia, Castellón, Logroño, Valladolid, Granada, León, Huelva and Bilbao.
Market indicators

Big regional variation in the evolution of the propert market.

 

Prices are still falling in Galicia, Extramadura and Castille La Mancha. These areas have considerably less foreign demand and two are away from the coast. regarded as less desirable places to live by foreigners.

The biggest price rises are seen in the Madrid and the Balearic Islands.

Immigration pushing up house prices

Spain has seen a return to an increase in net migration into the country. Consistent with the property price rises, it seems that immigration housing demand is pushing up prices and this correlates

Property prices in all the Mediterranean communities have risen and are expected to continue rising for the next period and beyond.

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