An estimated five year surplus in Spanish real estate is hindering recovery in some regions, while prices are beginning to rebound in other parts of the country. Prime properties in areas of high demand continue to attract buyers, typically mid- to long-range cash purchases intended for the owner's use, exemplifying the stability long synonymous with Spanish real estate. See the following article from Property Wire for more on this.
Spain property market
Property prices are starting to rise in some parts of Spain, according to a new report from one of the country’s largest savings banks.
The much awaited real estate recovery is underway in locations where there is no glut of property such as Cantabria, the Basque region, Asturias and La Rioja, says the report from Caixa Catalunya.
‘House and land prices have touched bottom in some cases. The adjustment is almost over, if not already,’ said Eduard Mendiluce, head of Caixa Catalunya’s property division Procam.
