Spanish property market shows signs of a bottom

The Spanish property market is showing signs of bottoming out, according to one Danish bank.

The report from Saxo bank notes that "property transactions have improved over the last few months, and are currently growing at an annual rate of 6 per cent" and adds that there are "plenty of signs" of a market bottom, although it might be a "little premature" to say the bottom has definitely been reached.

Indeed, the tone is very much one of the cautious optimism, citing the first price increase since 2008 in the second quarter of 2014 as well as positive construction data, but also warning that the market "will remain in danger for several years, and recovery will probably take quite a long time".

Source: Spanish Property Insight