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Engel & Völkers Licence Partner Sant Just > Blog > Market Report 2017 - 2018 - España y Andorra

Market Report 2017 - 2018 - España y Andorra

• Engel & Völkers forecasts that strong residential demand in a low interest rate environment will be the main driver of the market

• The revelations of the year will be the periphery of Madrid and Barcelona, ​​medium-sized capitals such as Valencia, Malaga or Alicante and premium tourist destinations of second residence

• The rise of new construction in the best locations in large cities puts prices at historical maximums. In Madrid they reach 15,000 euros / m2

In 2017, the price of housing increased in Spain by 8%, while transactions increased by around 15%. Both are the highest increases of the last decade. Despite this, there is no reason to suggest the existence of a speculative bubble or that the upward cycle is about to end. On the contrary, in most of the country's municipalities, this cycle is in its initial phase.

The forecasts for 2018 point to a rise in the price of housing higher than 10% and an increase in sales above 20%. Although the demand for improvement and investment will continue to be the main drivers of the market, the first access to property (made mainly by young people) will begin to be significant.

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