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BBVA forecast 5 per cent rise in Spanish property prices this year

Posted on Tuesday, 15 May 2018 07:17AM by
Analysts are confident that no repeat of the boom-and-bust cycle is likely. 

In their latest report on the state of the residential property market in Spain the analysts at the BBVA bank forecast that average prices will rise this year by around 5 per cent, double the figure for 2017, but at the same time express the opinion that there is no danger of a bubble being formed and then bursting, as happened a decade ago.

They also estimate that the number of property sales will reach around 570,000, representing an increase of 7 per cent and this is coming close to what might be considered a normal and sustainable level after plummeting to around 300,000 in 2013.

BBVA also predicts an increase in the number of new homes for which building licenses are granted of 15 per cent, taking the figure for 2018 to 93,000