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The Spanish real estate market has recovered after the crisis

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28.02.2018

The Spanish real estate market is officially back to pre-crisis levels. The number of transactions of purchase and sale in 2017 was the highest since 2008. Last year was signed 465 thousand transactions, which is 15% more than in 2016. The average cost of housing in the country in 2017, increased by 7.6% compared to the previous year. At the same time, property prices in 2017 was 21% below the level of a decade ago. According to estimates by rating Agency Moody's, it is likely that property sales in Spain to 2018, for the first time in the last decade, can exceed the level of 500 thousand units. At the same time in 2007 this figure was close to a million. It is noted that the most rapid growth in the number of deals was recorded last year in Madrid (92%). In the capital of Spain is also on the 311% increase in total sales. In 13% of transactions of purchase and sale in Spain last year was attended by foreigners, primarily the British and the French. 35% of transactions on the Balearic and 29% in the Canary Islands was concluded by foreigners.