Since the start of the current financial crisis in 2008, the Spanish real estate market had been heading to a continuous downward spiral: constructions were left uncompleted due to the sudden dry up of funding, the number of real estate transactions and the price of transactions both dropped by more than 10% each year, existing houses and new homes competed against each other for the smaller number of buyers, resulting in further decrease in property price. According to the Spanish real estate transaction registry, by the end of 2012, the overall Spanish housing market had lost 35% of its pre-crisis wealth, and in some regions the drop of housing price had exceeded 50%.
Today, Spain has officially come out of the crisis, and the downward spiral of the Spanish housing market came to an end in 2013. The volume of real estate transaction started to increase in the 2nd quarter of 2013, and the average price of real estate transactions has started to stabilize. It is almost certain that the Spanish housing market is in a recovery mode.
Click on the links below to learn more about real estate investment opportunities in Spain:
Opportunities in Spanish Real Estate Market
New Residency Program for Foreign Buyers
Spain Property Service Packages
