Spain´s Second Largest Bank Says the Data Shows Signs for Optimism
The research arm of the BBVA Spain´s second largest bank are reporting that data accumulated over the past few months gives them signs of optimism in the Spanish property market. Some of the reasons have already been reported in this blog. They include a rise in consumer confidence, a decrease in unemployment and more licences granted for new build residential properties. Along with these factors the BBVA also report that there are other indicators also indicating that the Spanish property market is beginning to grow.
Increase in household income
The data shows that for the a second quarter the income for Spanish households increased when looking at the figures for the third quarter of 2014.
Mortgages granted increased
The decrease in mortgage rates combined with the fall in property prices means that purchasing property has become more affordable, linked with the increase in income all of which have added stimulus to the property market.
All of the factors lead experts to have cautious optimism in the Spanish property market for 2015.
We at Algorfa Real Estate have seen an increase in inquiries for property especially from those outside of the Euro Zone, which as the GBP is currently much stronger against the euro means UK clients are getting some real bargains.