The evolution of the real estate market in Spain has continued its course, although experts say that the bubble which emerged before the crisis will not return - at least it is not expected to according to the data carried out by these researchers. The current situation has set the foundations in Spain and indeed the low property prices continue and will remain below the the real estate price bubble.
As established in the report prepared by the US agency, Standard & Poor's, the pace of property price growth will gradually decrease. This means that while this year an increase of 5.6 per cent in the average price of property is expected, in 2019 it is estimated that it will be around 4.3 per cent, in 2020 3.5 per cent and in 2021, it will stand at 3 per cent.
Taking into account this same line of prices and as established by the Ministry of Development, it seems that at the beginning of the next decade, the price per square metre would be over €1800. At the beginning of 2014 when the financial crisis was already at its peak, the price per square metre was clearly lower, with a minimum of € 1460 per square metre. There is also a significant gap from the property price bubble. In fact, in 2007 and 2008, the average price of homes in Spain was more than €2000 per square metre.
It is a rule of three. Currently, the price is below the level reached in 2007, by 24 per cent to be exact, although, as confirmed the US firm's report, in 2021 the level will be even lower, specifically up to 12 per cent.