Worldway Comprehensive Report: On January 18, Spain's Minister of Economy, Luis de Guindos, stated that the decline in international crude oil prices and the depreciation of the euro against the dollar are very favorable for driving Spain's economic growth. In de Guindos' words, Spain's economic growth rate "is advancing at a luxurious cruise speed," expected to exceed 2.5% this year and could reach 3%. This has excited investors, who believe it will trigger a wave of enthusiasm in Spain's real estate market. At the same time, the trend of buying property for immigration in Spain will become increasingly popular, accelerating immigration layouts.
The Minister of Economy cited predictions from a well-known economic research institute in Spain a few days ago, whose latest report suggests that Spain's GDP growth can be optimistically adjusted to 2.7%. The institute's forecast is based on the assumption that oil prices will remain around $60 per barrel this year (which has now fallen below $50), predicting that Spain's growth could reach 2.7% and is expected to achieve 3%. The decline in oil prices will increase the disposable income of Spanish households, further consolidating and enhancing domestic demand. Considering the income tax reduction measures that will take effect in Spain this year and the continued reduction of the Euribor interest rate, these positive factors are expected to lower Spain's unemployment rate to 21% in 2015.
A spokesperson for the economic research institute told ABC newspaper: "I am not an optimist, but a realist," implying that growth is entirely possible rather than purely optimistic expectations. Additionally, the Organisation for Economic Co-operation and Development and the International Monetary Fund are also raising their economic forecasts for Spain. Overseas analysts believe that Spain's growth will far exceed the average level of the Eurozone, with a net creation of 500,000 jobs expected this year. Minister de Guindos stated that Spain's recovery is continuously being consolidated; while it cannot be said that the crisis is history, the recovery is real, and the fear of unemployment has disappeared from the Spanish labor market.
The acceleration of Spain's economic growth will make the real estate market in Spain even hotter, and the current property purchase immigration policy will be more favored. Worldway's experts on Spanish property immigration explain that the Spanish investment immigration law stipulates that an investment of 500,000 euros can quickly obtain Spanish residency. This is timely for the growing Spanish real estate market. Therefore, for customers intending to buy property for immigration to Spain, this will accelerate their immigration layout in Spain.
