News: SPANISH PROPERTY PRICES EXPECTED TO INCREASE IN 2016

As the summer draws to a close in Spain, it is normal tradition for the property experts to review the year (2016) to date, and to predict the state of the property market in the final three months of the year. A quick look at the market conditions in Spain at the moment definitely suggest that the housing sector in the country is currently looking very rosy, according to BBVA.

The latest Spanish Property Market report by the banking group forecasts that Spanish house prices will continue to rise during the final quarter of the year, even if the recent recovery in the market loses a little of its momentum.

So far, there has been much positive activity this year, with property sales, prices and building activity all increasing, plus improving mortgage conditions set to continue the upward trend.

Foreign buyers continue to snap up Spanish properties, and their purchases account for no less than 14% of all residential property sales, showing British buyers - despite Brexit - remaining in the top spot of all foreign buyers (20%); with the Germans (8%); followed by the French (7%) and Swedish (7%).