Prediction Of Prosperity In Barcelona’s Property Market Following Catalonia Independence Referendum

16.10.17

The future is uncertain for the relationship between Spain and Catalonia following the referendum this month, but real estate experts remain confident the property market will prosper.

Last week Catalan President Carles Puigdemont and other regional leaders signed a declaration of independence from Spain, following a disputed referendum.

Political movements to separate Catalan from Spain have been active since the 1920s but really hit their stride in 2006 with the agreement of the Statute of Autonomy.

Over the past four years a number of illegal referendums have been held questioning whether the people of Catalonia want to become a state and whether this state should be independent.

The first occurred in 2014 with an 80 per cent yes vote – but this was deemed unconstitutional and was passed off as a consultation as opposed to a referendum.

Then this month another referendum, deemed illegal by the Spanish Constitution of 1978, took place with a 90 per cent ‘Yes’ vote and a 42 per cent turn out.

And while no moves have yet been made with the Catalan President saying nothing will happen for several weeks to talks with the government in Madrid, uncertainty over the future has swept the globe about he impact of this political decision.

But Gerard Boix, of Barcelona & Costa Brava Sotheby's International Realty has since spoken out stating while he cannot predict the future he remains confident in the steady progression of the market in cities like Barcelona.

“We are feeling very positive at the moment about the outlook of the property market,” said Boix

“This is a political decision and we are not in a position to comment on the decisions that may be made but we feel things will be quickly back to normality after a solution is reached.

“We have had some clients asking about the situation as this has made headlines across the world and some are halting their investments while discussions take place but I do not feel this will last.

“This is a political issue that has been present for many years and now finally we believe they are closer to reaching an agreement than ever before.

“While we cannot tell what the future holds we think finally reaching a solution could prove positive for property in Catalonia.

“2017 has been a very good year for the real estate market in Barcelona and we expect more of the same in 2018.”

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