In keeping with BBVA’s forecasts earlier this year, Spain’s second biggest bank has published a report noting a healthy Spanish property market with a projected increase in sales transactions over the coming months.<\/p>\n
In its periodic Spanish Property Trends<\/i> Report, the research division of BBVA expects around 500,000 home sales this year, a double-digit increase on last year.<\/p>\n
According to data from the Spanish Notary Association cited by BBVA, almost 265,000 properties were sold in the first half of 2017, representing a year-on-year increase of 15.5%. Incentivised by the economic recovery and low mortgage rates, the Spanish property market is on course to reach or even exceed BBVA’s forecast of 500,000 home sales this year.<\/p>\n
In June of this year, 51,477 properties were sold in Spain, a 17.4% increase in the same month the year before, and up by 5.4% compared to the month before. The increases in sales transactions go hand in hand with the growing Spanish economy, according to the report. Spain’s GDP went up by 0.9% between January and June, with almost 377,000 new jobs created in the first seven months of the year. Consumer and industrial confidence also remain at historic highs.<\/p>\n
Low mortgage interest rates are also cited in the report as important indicators of the growing market. Average new mortgage loan interest rates were at just 2.2% in July, another record low that has drawn new buyers to the thriving Spanish property market.<\/p>\n
Contact Domus Venari<\/a> today to speak with one of our property consultants in your language if you are looking for a property on the Costa del Sol<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" In keeping with BBVA’s forecasts earlier this year, Spain’s second biggest bank has published a report noting a healthy Spanish property market with a projected increase in sales transactions over the coming months. In its periodic Spanish Property Trends Report, the research division of BBVA expects around 500,000 home sales this year, a double-digit increase […]<\/p>\n","protected":false},"author":2,"featured_media":18701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201],"tags":[],"class_list":["post-18535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-in-spain"],"yoast_head":"\n