Although there is a general rumor, that is true, that things are getting better, I think we still have some time to go for the market to normalize. The general picture is the same I have been writing about in the last year: more transactions, flat prices and increasing stock of properties for sale. In fact, although the price index shown a change of tendency at the end of 2014, it is going down again with a 5% decrease in the last six months to reach its lowest value in the last ten years.
In spite of this negative number, by observing the chart, it can be said that the price index has been almost flat in the last three years. That same tendency is also seen in the price index prepared by the real estate portal Fotocasa.
The increase in the stock of properties for sale and our feeling with potential buyers so that there is no sense of urgency when buying are the two factors that are preventing the increase in the price of the properties. According to Standard & Poor’s the change of tendency will come in 2015 with an increase of 2,5%, followed by an equal 2,5% in 2016 and a further increase in 2017 of 4%. However, and unless the tendency changes at the end of this year, those increases have not been seen yet.