News How will behave real estate sector in 2016?
·Resale properties, the most sold and the 3 bedrooms, the star.
·Foreign citizens will be the main buyers of holiday homes.
·The general tendency is the price stabilization.
The real estate market ended 2015 with good figures and is expected to 2016 will be the year of stabilization after more than eight years of crisis.
Resale properties, the most sold. As a result of the reduction of excess housing due to the lack of new developments, sales of resale properties in Spain are imposed on new construction.
Three bedroom properties will continue being the star in the real estate market. Especially when we talk about main residence, the buyer opts for this type of housing because "the feeling of luxury begins with the space."
Foreign citizens, main buyers of holiday homes. The interest of foreign public in holiday home has been particularly striking during the crisis years and it remains so today. About 65% of second home properties sold in Spain have a foreign buyer.
More credits. Improved access to credit, and thus increased financing for the buyer has allowed to estimate a rise in the sold properties for 2016, that is, 15-20% more than 2015.
Promotion rising. Compared to the years before the financial crisis, when new construction reached 750,000 annual developments, current figures are around 50,000 although this figure is expected to increase further. In a short period of time we might get to speak of a total of 200,000 houses under construction yearly.
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