The real estate sector can confirm that the last six months of 2016 are a good time to consider the purchase of a house. In this blog we have already mentioned that mortgages in Spain in 2016, are very attractive, and therefore have increased 16% with regard to the previous year. We can deduce from this fact that the Spanish real estate sector during 2016 seems to be recovering and thus is becoming an interesting investment. Above all, we must bear in mind that the prices will go up in the short term.

FEWER NEWLY BUILT HOUSES

It is beyond dispute that the housing market is growing in Spain. A few months ago we talked about it in this blog, where we clearly saw the increase in 2015 compared with 2014. At present, we can state that 2016 is also better than 2015. Experts say that it is now a great opportunity to invest in housing as the prices will surely increase. In large cities there are not many newly built houses (we mentioned the problem Madrid has regarding available plots of land). This fact leads us to believe that second hand housing will not lower the price. Regarding newly built houses, their construction will slowly rise if the real estate recovery continues to consolidate.

THE REAL ESTATE SECTOR AT PRESENT

The European Statistical Office (EUROSTAT), shows that there has been an increase of more than 6% in the price regarding Spanish housing. This fact does not surprise us because we have seen the steady growth of this sector throughout the last two years. Generally speaking, if the house on sale is of good quality, its price will surely rise and continue to do so in the near future. Eurostat statistics show that the current rise in prices is the most important one since 2007. This means that we should consider buying now, before the prices increase even more.