Terrific year ahead

BARCELONA: Increasing the number of luxury homes.

2017 is set to be the year that the Spanish property market finally consolidated the astounding gains of recent years and embraced a new model of stability and sustainability. 

House prices are expected to see strong growth of around six per cent, surpassing the just over three per cent seen in 2016. Barcelona and Madrid are set to become major hotspots on the luxury and commercial scenes. While the Costas and Islands are set to attract even more foreign buyers than ever before. 

That all bodes well for homeowners across Spain, or anyone interested in buying a property. Especially as the country has learned the lessons of the past and the market has adapted to become more dynamic, transparent and open to foreign citizens.

Optimism has also taken root in the tremendous volume of information requests in different online portals like Kyero, bolstered by Spain’s frequent appearances on British television shows, including A Place in the Sun and Love Island. 

Already in 2016, foreign buyers accounted for some 20 per cent of transactions in the Spanish property market. If the forecasts are anything to go buy, that percentage is set to jump even higher this year. 

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