Experts analytical BBVA bank in its latest report predicts stabilization of the real estate market in 2014.
After six consecutive years, the level of activity in this sector fell, but this year after reducing the total investment will be more moderate and amount to only 3.4% and in 2015 it is expected to recover. It will entail an increase in this index by 0.5%. So it is expected that in the first two years a recovery in demand caused by lower interest rates on mortgage loans , including the improvement of the situation on the labor market .
Thus, in 2015, mortgage rates will stabilize or even decrease to about 3% , the labor market will provide new jobs in connection with this correction happens in housing prices. As a result, due to these factors , and conservation interest of foreigners in Spanish property , all this will have a positive impact on demand .
Analysts BBVA predict that this year will slow down the fall in activity in the sphere of housing sales , and in 2015 will begin its recovery . “With the progressive recovery in demand will decline an offer because of the limited number of dwellings whose construction will be completed in the coming years. By 2015, this could lead to price stabilization ” – experts say .
Their forecasts are reduced to that , the increase in investment in 2015 at 0.5 % will be associated with a small increase in activity in this area – at the moment it is at its lowest historical level in the region of 4 % of GDP , and the lowest figure since 1980.