9 October 2019 – By the end of this year, Spain will have had four elections in as many years. While it doesn’t reach anywhere near the level of Italy, which has had 45 governments since World War II, the uncertainty would normally be expected to impact growth. In addition, Catalunya’s independence movement did, in fact, have a temporary, but major impact on growth in Barcelona.
Nevertheless, market sources say that major real estate players have learned to live with some level of political risk. And things are not just complicated in Spain. The United Kingdom is going through the long, drawn-out and self-inflicted trauma of Brexit. Italy is still having its usual political problems and the United States are going through the never-ending turbulence of having Donald Trump as their president.
Spain, in terms of economic and legal stability, is still seen as a relatively safe harbour, especially, since all of the main Spanish political parties are committed to remaining in the eurozone.
Original Story: Cinco Dias – Alfonso Simón Ruiz
Adaptation/Translation: Richard D. K. Turner