That's in line with current levels and matches CAM Bank and Caja Murcia forecasts of 12 percent for 2005 (currently nearer 16%) and 12 percent growth for 2006. Both banks are big investors in Spanish real estate developments and mortgage providers to Spanish and foreign buyers. They are members of the newly-formed SIPPs in Spain organisation, with PropertyInSpain.Net, Travelex, Spanish lawyers, leading developers and property valuers.
DEVELOPERS AGREE ON HOMES MARKET
Jose Ivars, of SIPPs in Spain developers, Blauverd said: “We plan to launch the first SIPPs friendly development shortly - at prices below the current forecast levels. Already there are many signed up buyers through the SIPPs in Spain grouping. If the SIPP pension is getting 12 percent growth a year, this has got to be one of the best returns in many years."
Spanish developer Grupo Lar Sol managing director, Chus de Miguel confirmed: "Prices are continuing to rise, but at a much slower rate than in previous years."
SIPPs in Spain, spokesman, Alberto Linares said: “Our research with pension providers indicates that SIPPs holders will be happy with a return below that being forecast by the Spanish banks. Spain is able to combine economic security and unlimited tourism lettings potential for the SIPPs homes with a better than average investment return.”
Spanish housing minister, Maria Antonia Trujillo claims her department's policies are successfully taking the edge off the property investment boom to ensure there is no sharp bump later on. The Spanish government is committed to building more social housing and stimulating the rental market to slow price inflation.
SIPPs in Spain membership includes 50 Spanish banks, UK SIPPs providers, five leading developers, TINSA, the national valuers chain, top insurance company Ocaso, PropertyInSpain.Net, MortgagesInSpain.Net and Travelex, the biggest currency firm and Siemens Smart Homes.
Spanish Property News
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