Spanish Economy to Grow
08 November 2007
A global bank research body has forecast continued growth in the Spanish economy and property market, good news for those buying property in Murcia.
Deutsche Bank Research, the global and highly respected German financial services provider, has published research highlighting the success of the Spanish economy in recent years and predicting continuing moderated growth across the country. The report dampens the predictions of some analysts that Spain is due a significant downwards correction which would adversely impact the property market in the country.
The report highlights an economy which has grown faster than many other similar economies with improving labour and education rates, along with greater openness and encouragement of trade and innovation at the heart of the success story. Deutsche Bank Research forecast that Spain’s GDP per capita is likely to grow above the Euro area average over the next few years. Property price increases in Spain in recent years have been exceptional, but neither unexpected or unsustainable as the increase has been fuelled by net immigration, a younger than average population and household sizes changing from above the European average to near average, all trends which are set to continue. The housing boom may not see the exceptional rates of recent years but single figure growth is the more likely scenario than a rapid downturn.
The full article ‘Spain 2020 – The Success Story Continues’ can be found in the Article Archive at www.dbresearch.com.