Are you wondering how to sell your property in Spain quickly given that there hasn’t been a government in the country for over six months now? Well, there are signs that we could as yet see an end to the political impasse in Spain that has continued since the elections held in December of last year when none of the political parties were able to form a government.
Spain’s King Felipe VI began a legal procedure which could as yet result in the formation of a new government. The King has given acting Prime Minister Mariano Rajoy of the People’s Party time till August 2nd to get a working government formed in Spain.
The repeat elections held on June 26 saw the People’s Party emerge as the single largest political formation. The King wants Rajoy to strike a deal with the other parties and ensure that there is no third election. Indeed, the King is very insistent that there will not a third election. Even the idea of the third election would throw the business community in Spain and foreign investors in a panic. That could affect the real estate market in Spain pretty badly.
The Spanish parliament has already met and voted for a new Speaker of the Congress, Ana Pastor. The Speaker will now assume responsibility of discussing possible political deals and partnerships. The King is determined to end the deadlock in Spain at all cost.
Is this the right time to sell your apartment in Spain online? The interesting thing is that while the political sector in Spain has been paralysed since December, 2015, the Spanish economy and the Spanish property market in particular has been doing spectacularly well. The real estate sector in Spain has witnessed robust growth and the confidence in very high.
Data from Eurostat, the EU statistics agency, shows that property prices in Spain have risen much faster than the increase in property prices in the Eurozone. In Spain, real estate prices have risen at an average of 6.3%, while in the rest of the Eurozone, the rise has been just 3%, so far in 2016.
Spain is today the fastest growing economy in the Eurozone. If you’re looking to sell your villa in Spain fast this year, you would probably be excited to know that Spain has the best property market in Europe. There’s a plenty of potential for growth too, considering property prices are still 32% below the highs seen 8 years ago in 2008.
Spanish real estate experts say the situation couldn’t have been better. The growth in Spain’s real estate is driven by both domestic and foreign demand, strong economic growth and sensible lending by banks.
However, there are issues that need to be resolved by a new Spanish government, such as the threat of a fine by the EU for overshooting the fiscal deficit.
That’s why the Spanish King Filipe has a tough task at hand. It won’t be easy for Rajoy to form the government given how much he and his party are disliked by their rivals. Indeed, the Socialists tried to form a government themselves, but did not find much support.