According to ratings agency, Fitch, there are a number of reasons to be positive about the Spanish property market for 2015.
The third and fourth financial quarters of 2014 saw a large improvement in almost all of the indicators regarding the health of the residential property market in Spain, with one of the most positive indicators being the increase in the number of mortgage loans.
This increase in supply of mortgage loans has also been visible in early 2015, and the latest index report for the Spanish mortgage market indicates that mortgage loans in Spain will continue to improve as the Spanish economic recovery continues to gather pace.
The Fitch report notes that the yar on year default rate on mortgage loans had fallen to 1.2%, a 0.5% drop on the previous year, and the volume of loans in late-stage arrears has reduced to 6.2%. According to Fitch, this downward trend is expected to continue.
According to valuation firm Tinsa, property prices are also beginning to stabilise and with low interest rates expected to continue, it is expected that unemployment figures will continue falling and institutional and individual foreign investors are showing an more interest in the market.
Fitch concludes by noting that the outlook for the Spanish property market in 2015 is positive. Spanish property prices are expected to consolidate and demand is expected to be stimulated by the increased availability of mortgage loans.
Filed under: http://www.theleader.info/article/46361/
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