With the fresh new year of 2017 just begun there is a feeling of optimism that the Spanish property recovery will gather momentum and overseas property investors may want to consider getting on board.
The 20th annual statistical analysis from R.R. Acuña & Asociados states that the 2.3 per cent rise of Spanish national property prices in 2016 is expected to more than double to 5 per cent per annum over the next two years and remain constant until 2020.
The firm did predict however that investors need to chose their area carefully, as great disparity in property price growth is expected over the 17 regions and 50 provinces of Spain.
This was illustrated near the beginning of the property recovery in 2015 when just under half (46.8 per cent) of the 8,000 plus municipalities in Spain showed price growth, while the rest continued to stagnate.
The main areas expecting growth continue to be the main metropolitan areas and the Costas where the majority of new jobs and economic growth is likely to be situated.
Construction of new builds in particular is likely to increase to meet fresh demand in those zones, following a slump in recent years.
Ir seems that carefully chosen investments in the right areas of Spain could reap dividends over the next few years.
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