16 March 2015 – Pisos.com
Tomás Riestra, analyst in the Research Department at Banco Santander shares his views about the outlook for 2015 in a short interview.
The recovery in the real estate sector is now well underway after beginning timidly in 2014. So says Tomás Riestra, analyst in the Research Department at Banco Santander, who expects 2015 to be the year of stabilisation. “This improvement is based on the flow of credit and the fact that prices have begun to grow timidly, in an environment of greater economic growth and the generation of higher quality employment”, said the expert.
For Riestra, house prices will not return to pre-crisis levels because obstacles from the crisis still remain, like the stock of homes for sale, and because lessons have been learnt from those years. “The real estate boom resulted in a set of circumstances that is not going to be repeated”, specified Riestra, for example, the (construction) sector is not going to have the same importance in terms of Spanish GDP (going forwards).
Original story: Pisos.com
Translation: Carmel Drake