Catella sees positive outlook for Spanish real estate markets
Spanish property prices are likely to increase in 2017 on the back of a growing economy, increasing rents and a high level of interest in Spanish real estate investments among international investors, according to a market tracker report from Catella.
The Spanish economy developed well in 2016, and GDP grew by 3.3 percent, well above the average GDP growth rate in the euro zone of 1.7 percent. The Spanish economy is expected to continue to grow the coming years, and GDP growth of 2.5 percent is forecast for 2017.
Commercial real estate rents in Spain increased in 2016. This rental increase is expected to continue during 2017, particularly in Madrid and Barcelona, where there is a lack of high-quality office and retail space.
In addition to a growing Spanish economy and increasing commercial real estate rents, the increase in Spanish real estate prices is supported by a high level of interest in Spanish real estate among international investors. With i