Increase in demand for residential property
Bank research shows increase in demand
According to research carried out by the BBVA Bank using figures for September 2014 there is an increase in demand for residential property in Spain. The uplift in the people employed along with an increase in consumer confidence appear to be the factors underpinning the increase in demand.
These two factors together with more financial stability means that there has been an increase in the number of permits being applied for be developers. Figures from The National Statistics Institues seem to ratify the figures from BBVA. There has been an increase in sales, which means a year on year increase for September, in property sales of just over 20%. The increase in permits have grown month on month for the last five months, according to the research.
This increase has fed the growth in mortgage applications here in Spain.
The National Statistics Institute are reporting positive investment growth quarter on quarter.
The report from the BBVA´s research team is generally optimistic about the property market. The figures seem to suggest that prices are slowly stabilising.
Certainly, we here at Algorfa Real Estate have found an increasing inquiry rate for properties in and around the South Costa Blanca, especially in the Algorfa area.