The latest report of the bank, called “Situación España” (“Situation in Spain”), shows that the year 2014 will bring further fall by 3.4% in the housing investment. However, the diminishing tendency will turn in 2015 and will begin to grow. The data provided by BBVA marks an 8.4% decline in 2013, that is the sixth consecutive year of depreciation. (…). The end of this year is supposed to be the turning point in the investment. However, the fact that the historic records low are being established remains unchanged and now the investment makes a meagre 4% of total GDP.
The forecasts are positive, due to the slight improvement in employment, financial recovery and low dwelling prices that could cotribute to higher demand, especially from the side of foreign investors.
All taken into account, it is predicted that in 2014 the sales of homes will begin to brake its free-fall down observed by the end of 2013 and will rebound in 2015. (…).
Original article: Expansión (Servimedia)
Translate: AURA REE