Utilizamos cookies propias y de terceros, analizando sus hábitos de navegación en nuestra página web, con la finalidad de garantizar la calidad, seguridad y mejora de los servicios ofrecidos a través de la misma. En los casos en que el usuario no manifieste expresamente si acepta o no la instalación de las cookies, pero continúe utilizando nuestra página web, se entenderá que éste ha dado su consentimiento, informándole expresamente de la posibilidad de bloquear o eliminar las cookies instaladas en su equipo mediante la configuración de las opciones del navegador. Puede obtener más información a este respecto consultando nuestra Política de Cookies Acepto
Ivie
INSTITUTO VALENCIANO DE INVESTIGACIONES ECONÓMICAS

Artículo de investigación

SEFO - Spanish Economic and Financial Outlook Autor: José García-Montalvo

Título: The Spanish housing market: Is the adjustment over?

Fuente: SEFO - Spanish Economic and Financial Outlook

Resumen: The housing market adjustment following the bursting of the property bubble in Spain has represented a key challenge for the economy. During several years, the adjustment has largely been made through quantities rather than prices. Nevertheless, the recent evolution of house price indices shows that they are finally adjusting fast and remain on a declining path. In addition, large operations in the Spanish real estate market have helped to increase the confidence of international investors. Some key trends have also emerged in the property market, such as the presence of banks as key players in the sector, the increase in cash purchases versus reliance on external financing, and the larger role of foreign investors and foreign funds. Recent transactions by banks and Spain’s so-called bad bank the SAREB have also been promising. Despite these developments, the stock of new houses remains largely unchanged and banks continue to accumulate repossessed properties on their balance sheets. Ratios show that the Spanish property market remains overvalued, but that progress on the adjustment process is on going.

Ver artículo

Cómo citar este artículo:

García-Montalvo, J. (2013): "The Spanish housing market: Is the adjustment over?", SEFO - Spanish Economic and Financial Outlook, 2(5), septiembre, pp. 15-26.

Más artículos