According to Standard and Poor, it still is the right time to buy in Spain but the window of opportunity is closing.
All this means that within the space of one year, house prices in Spain will experience one of the biggest price fluctuations (fall to rise) of Europe’s main economies, from a 1.4 percent fall to a 4.5 percent rise. The property markets in Ireland, Portugal and the Netherlands are forecast to experience similar price fluctuations.
This may not seem like good news for prospective buyers who are wondering if 2021 would be the right time to buy.
But as with all other property forecasts, a lot of it is largely guessing, and there are plenty of sources saying that 2021 will be the year of price drops in Spain, not rises., and maybe a right time to buy in Spain.
As an example of this, Bankinter’s latest property report predicts a 9 percent drop between 2020 and 2021.
Consulting firm Forcadell and the University of Barcelona forecast an even bigger price fall in a study they published in October: -16 percent in 2021.
Which estimate will be closer to the situation of Spain’s property market in 2021, we simply don’t know.
When it comes to property hunting, it seems that the most effective tool that someone can use is their own research geared towards their own specific needs and goals.
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