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In Spain it is difficult to predict what will happen in 2011, according to RICS survey on housing developments in Europe.
While some markets such as Belgium, France, Germany and the Nordic countries experienced significant price increases during 2010, other markets continue to trouble. Ireland, Hungary and Cyprus have suffered severe declines during the year, in Britain, Holland, Poland and Italy were relatively low prices.
On the other hand in Spain, Greece and Portugal last year falls were quite moderate, despite the economic difficulties that passed these countries, while in the Baltic countries the sector is recovering after suffering a deep crisis earlier.
Although it seems that most European countries away from the housing crisis, in RICS analysis reveals that the future of housing is still quite uncertain and that full recovery will depend on many factors, not just increases in house prices.
Unlike previous recoveries, this time the turnaround in this sector star increases in housing prices, while other indicators such as the supply of homes built and the number of sales does not seem to improve in Europe, except some exceptions. At the same time, in many countries there are significant restrictions on mortgage lending. While interest rates remained low during the past year, the European residential could be seriously affected for a possible rise in interest rates.
In Spain there were some improvements in housing demand in 2010 due to increased accessibility and financing costs, with interest rates at historic lows. Although RICS is cautious when discussing the prospects for this year, before the problems through the euro zone in general, high levels of debt in the private sector, excess supply and the slow pace of economic recovery in this country.
According to Michael Ball, Professor of University Reading in the UK and author of the study: "A full recovery will not occur until markets are fully operational again, with plenty of mortgage credit, a building restored and a high turnover in all sectors. At the moment this does not happen in all markets. Hot north, south, cold is the simple geographical description of the housing markets in Europe today. "
Calvo Arderiu Amadeo MRICS, RICS member comments on the housing market in Spain: "The housing prices, will slowly adjusting to a low demand that does not already enjoy tax incentives, and does not seem to know the ground of such a fall, before a really uncertain future. The number of stock unsold homes should not worry because as soon as it can ensure that a large percentage of them will never be sold and will deteriorate due to lack of maintenance.
May now be time to take losses and start again, avoiding some of the mistakes of the past, if it were not for the balance of the balance of many banks and not allow the decline of value in their warranties. The housing sector is now caught in financial sector balance sheets. "
While some markets such as Belgium, France, Germany and the Nordic countries experienced significant price increases during 2010, other markets continue to trouble. Ireland, Hungary and Cyprus have suffered severe declines during the year, in Britain, Holland, Poland and Italy were relatively low prices.
On the other hand in Spain, Greece and Portugal last year falls were quite moderate, despite the economic difficulties that passed these countries, while in the Baltic countries the sector is recovering after suffering a deep crisis earlier.
Although it seems that most European countries away from the housing crisis, in RICS analysis reveals that the future of housing is still quite uncertain and that full recovery will depend on many factors, not just increases in house prices.
Unlike previous recoveries, this time the turnaround in this sector star increases in housing prices, while other indicators such as the supply of homes built and the number of sales does not seem to improve in Europe, except some exceptions. At the same time, in many countries there are significant restrictions on mortgage lending. While interest rates remained low during the past year, the European residential could be seriously affected for a possible rise in interest rates.
In Spain there were some improvements in housing demand in 2010 due to increased accessibility and financing costs, with interest rates at historic lows. Although RICS is cautious when discussing the prospects for this year, before the problems through the euro zone in general, high levels of debt in the private sector, excess supply and the slow pace of economic recovery in this country.
According to Michael Ball, Professor of University Reading in the UK and author of the study: "A full recovery will not occur until markets are fully operational again, with plenty of mortgage credit, a building restored and a high turnover in all sectors. At the moment this does not happen in all markets. Hot north, south, cold is the simple geographical description of the housing markets in Europe today. "
Calvo Arderiu Amadeo MRICS, RICS member comments on the housing market in Spain: "The housing prices, will slowly adjusting to a low demand that does not already enjoy tax incentives, and does not seem to know the ground of such a fall, before a really uncertain future. The number of stock unsold homes should not worry because as soon as it can ensure that a large percentage of them will never be sold and will deteriorate due to lack of maintenance.
May now be time to take losses and start again, avoiding some of the mistakes of the past, if it were not for the balance of the balance of many banks and not allow the decline of value in their warranties. The housing sector is now caught in financial sector balance sheets. "
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