The property market in prime Spanish coastal area and cities, including Marbella, Ibiza, Barcelona and Madrid, are showing signs of being on the mend, says property journalist, Mark Stücklin
The Spanish property market is showing the first signs of recovery, helped by overseas buyer demand, says a leading sector expert.
The latest data from Tecnocasa and Sociedad de Tasación, reported yesterday by OPP Connect, show that although overall average real estate prices are still falling, some areas, including Seville and Barcelona are now seeing values rise by up to 3% year-on-year.
Spanish property journalist, Mark Stücklin, dubbed the Spanish Property Doctor in his Sunday Times columns, who runs the real estate website, www.spanishpropertyinsight.com, tells OPP Connect that in some areas the market is showing signs of having reached the bottom.
“I think we are on the mend in some prime areas of the coast like Marbella and Ibiza and Prime city centres like Barcelona and Madrid. In these places there is no over-supply of property and foreign buyers with cash are driving the market.
“Looking forward I don’t expect house prices to fall much more in Madrid, as most of the correction has taken place after seven years of falling prices. And in Spain’s …read more