More optimistic growth forecast from the European Union for Spain
Spain seen as a role model for the Euro zone.
The European Union has just raised it forecast for Spanish growth and is hailing Spain as a role model for other European countries. The forecast is now been raised to 2.3% from a lower 1.7% just three months ago. This is the biggest upward forecast throughout the Euro zone.
Spain was in recession for three years to 2014. Now with more consolidation in the Spanish economy growth and a rise in employment is forecast for the next two years. The lowering of oil prices recently and the exchange rate being favourable for non Euro zone countries and their nationals are all adding to the positive vibe that Spain is experiencing.
These figures along with the BBVA´s research published earlier this week that says that consumer confidence is also growing gives Spain a good opportunity in the next couple of years.
Unemployment forecast to fall over the next two years
Also expected to rise is the number of people employed in Spain in the next two years.
The Spanish Government had openly criticised the lower forecasts published by the European Union in the latter part of 2014.
The new EU figures are more in line with the IMF forecast of 2% growth for Spain during 2015.
All of these figures are a boost to the real estate market, with agents such as Algorfa Real Estate finding more inquiries from potential clients outside of the Euro zone looking for properties slightly away from the coast in towns such as Algorfa and the surrounding areas.