Data Shows January Spanish Home Values up 3.6%

2018 is a perfect time to buy costa del sol property

Data Shows January Spanish Home Values up 3.6%

Statistics published by Spanish property valuation firm Tinsa this week show the average home in Spain was worth around 3.6% more at the end of January 2018 compared to January 2017. 

With the increase of between 5-6% in 2017 – depending on the metric – signs are strong that 2018 will be another positive year for Spanish property. 

The data from Tinsa highlighted not just the nationwide average increase of 3.6% but also different regional variances. The data showed that property prices were up over 5% in the larger cities and provincial capitals of Spain during January, with an increase of around 4.1% across the Balearic and Canary islands.

Average prices increased around 3% for most of the Mediterranean coast, which is just below the national average. This is a reflection of the fact that demand for coastal properties is generally at its lowest in the winter months. Tinsa believes that home prices across the Mediterranean will reach above the national average as the summer sets in. 

An interesting note is that while the data from Tinsa doesn’t reveal the average selling price of Spanish homes for January, it does say that home values have reached the averages of June 2013, which was a time when the market faced a number of price corrections. 

Things were moving downwards back then while they are moving upwards today, and substantially at that. Home sales are increasing by an encouraging amount; 11-15% over the past few years. The average mortgage loan amount is also steadily increasing.

New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

Spain property prices continues to grow in value 

New Market Value Data Shows 4.3% Price Increase for Spanish Properties in October

The latest data from Spanish property valuation firm Tinsa has shown that the average Spanish property price in Spain increased 4.3% in October of 2017 compared to 2016.

The statistics are for the entire country, meaning there are some regional variations to take note of, particularly the increase of 6.4% in provincial capitals and large cities like Barcelona, Madrid, and Malaga.

An interesting thing to note is that properties close to the Mediterranean coast have only increased 0.9% in market value for October over last year. This is somewhat of a blunt measurement by Tinsa however as anyone who lives on the Costa del Sol can tell you that not every Mediterranean region and resort is created equal.

Costa del Sol properties tend to increase at a steadier pace than in other areas. There are less peaks, but there are also less troughs, meaning that Tinsa putting all Mediterranean regions into a single category is somewhat misleading.

With this said, this category has also seen a 4.3% increase in home values over the first ten years of the year over the same period of time last year. That gives a better picture of how the markets in the Mediterranean are doing.

The market value data from Tinsa was published with a snapshot of different market indicators. Other statistics show that mortgage approvals improved 13.2% leading to August over the same period last year; a 7.91% reduction in employment to date in 2017; and the rather encouraging statistic that property sales have increased 14.3% in 2017 up to August compared to the same period of 2016. 

Data Shows Spanish Building Industry to Grow 4% Annually

Data Shows Spanish Building Industry to Grow 4% Annually

Crain's have returned to the Costa de Sol which is all positive 

Bloomberg describes the Madrid skyline as being a forest of cranes. While the capital of Spain is still nothing compared to the forest of cranes Dubai once was, there is definitely a noteworthy amount of building work happening around the city.

The Spanish construction industry is back and better than ever. The number of new builds in 2013 fell off a cliff, dropping 96% compared to the peak of 2006. Not many would have predicted that it would take just four years for the industry to be full of cash and confidence once more.

Data from the Ministry of Public Works shows that the building industry – which includes constructing new homes and offices – is set to grow 4% annually through 2020, with a 5% increase expected in just Madrid.

The benefits of the stable real estate industry are being felt outside of Madrid as well. Building sites are propping up all over Spain, with data from Bloomberg showing a small but steady increase in construction.

Building activity is beginning to reflect the Spanish economy, which itself is expected to rise by over 3% for the third year running. The data shows a positive trend where projects are quickly replacing one another and leading to constant activity. The building industry appears to be making up for lost time.

Additional data from the College of Property Registrars in Spain shows that property sales for new homes in Madrid and Catalonia has increased 10% for the first quarter of 2017, almost identical to the growth in resale properties. The fortunes of the two sectors are connected, even though new build activity typically follows the trends in resales – a trend that is particularly true for the Costa del Sol, where new build activity has picked up significantly in the past 18 months.

Felix Lores, an economist with BBVA Research, believes Spain has learned their lesson from the last property boom. This time the recovery is being anchored on sustainable models of consumption and exports rather than on the bubble of short-term credit.

This represents a significant difference from what happened in the past. It’s expected that the annual increase for new home constructions in 2017 and 2017 will be over 6%. Typically a surge in construction activity would lead to an increase in GDP, which relied on the property sector. This time things are the other way around.

Data Shows Increase of 47% and 55% in Home Sales and Prices Respectively in Spain

Spain continues to recover and sales are on the up

Data Shows Increase of 47% and 55% in Home Sales and Prices Respectively in Spain

A report collating data about Spanish home sales and value has discovered that – during the first six months of the year – property sales increased 47% over the previous year, while the value of homes in recorded sales increased 55%. 

The data in the report comes from the global real estate firm Lucas Fox, which primarily operates in high-end markets. This is why the average property price in their portfolio during the past six months reached as high as €750,000, which is much higher than the Spanish average. Even so, it does say a lot about the health of the Spanish real estate sector. 

Home values in all price brackets increased steadily across Spain 2017. Even so, this 55% increase for the top level of properties is much higher than the rises seen in other parts of the country. The amount of homes Lucas Fox sold also offers a positive look at the wider national trends of Spain, with the country registering an increase in transactions for over 15 months in a row. 

The data also analysed where the property buyers came from. The number of British buyers dropped 10% over last year – likely do to the impact of Brexit on the pound against the Euro. On the other hand, buyers from the US and Canada made up 10% of the property purchases in Spain. 32% of the Spanish properties sold were purchased to be either a second home or an investment. 23% of the properties sold were sold as a primary residence. 

Lucas Fox co-founder Alexander Vaughn says that the Spanish economy is one of the fastest growing ones in the Eurozone. This is bringing a lot of confidence to the property market. There’s been more interest from property investors who now feel that Spanish real estate has a lot of potential for capital gains and profitability from rentals. Lucas Fox expects the price recovery being observed now in cities will soon spread to the rest of the country.

Agents from Lucas Fox said that they saw a 150% increase in Marbella property sales, with 80% of the increase coming from Scandinavian buyers.

Data Shows 48% of Brits who Moved to Spain Last Year were Retired

Data Shows 48% of Brits who Moved to Spain Last Year were Retired

Regardless of Brexit, Spain continues

to be the choice of retirees

The latest data from the Spanish Office of National Statistics (INE) showed around half of the 300,000 British citizens that moved to Spain in 2016 were retired. 48% of them were retired.

According to the data, three times as many Brits moved to Spain across 2016 than Spaniards moving to the UK. The demographics were also vastly different. Most of the Spaniards moving to the UK are aged 40 or under.

The amount of retirement-age Brits living in Spain has more than doubled across the past decade. Spain has become the destination of choice for British retirees because of the warm climate, affordable property, cheap flights, and EU membership, ensuring that pensions are index-linked to inflation and grow each year.

British pensioners also stand to receive free healthcare in Spain due to reciprocal agreements between Spain and the UK. The UK has become an attractive choice for young Spaniards seeking to advanced their careers and improve their English skills.

The data from the INE showed 22% of Brits registered in Spain were also employed in the country, with most of them working in hospitality or catering.

It seems that Brits like to live on the coast, with the Malaga Province – where the Costa del Sol can be found – is a perennial favourite; bringing in over 100,000 new UK immigrants across 2016.

The data also revealed Brits took an astonishing 13 million visits to Spain in 2016 (with a “visit” classed as any stay under 28 days), much higher than the 849,000 visits Spaniards made to the UK.

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

The next few years looks very bright for Spain

as I continues its recovery 

Figures don’t mean much out of context, which is why the recovering GDP of Spain may sound good, but people could be left cold without understand just what everything means.

As the economists are cheering a projected 3.2% increase in Spanish GDP for 2017, the average Spaniard, along with expats and holidaymakers, are left wondering what it all means for them.

To put things simply, it all means that there are plenty of new opportunities for employment in Spain, which means that consumer spending is up, tax revenue for the government is up, and property prices and supply are also up.

The latest official data, shows that the tourism and manufacturing sectors are the two key pillars supporting the economic success of Spain.

The National Statistics Institute (INE) has revealed 3.9 million people in Spain were out of work at the end of June, a decrease from the 4.25 million from the end of March. In the period between March and June, around 272,400 jobs were created across the tourism industry as the country prepares for the busy summer season.

While most of those jobs are likely to be seasonal, estimates show that around 30% of them could last for longer if the economic recovery continues.

Additional data provided by market analysts ISH Markit show that Spanish manufacturing firms had their highest increase in employment for over 19 years during July – primarily to keep up with demand for Spanish goods including cars.

This all lead to last month being the strongest month for Spanish job creation since way back in May 1998, according to the Financial Times.

To add to this, data from the Bank of Spain has shown that the average net wealth of the Spanish family is increasing by around 6.9% per year, which means not only is the average Spaniard more secure in their job with more spending money, but also it means average personal debt levels are dropping.

No matter how you look at it, the Spanish economy is no doubt going through some encouraging times, which is encouraging for the people of Spain.

Data Shows Spain Made €60 billion From Tourists Last Year

Data Shows Spain Made €60 billion From Tourists Last Year

Spain broke all tourism records in Europe 

The latest data from the UN World Tourism Organisation (UNWTO) shows that tourism provided the Spanish economy with €60 billion across last year – which is more than for any other country except for the USA.

The difference is that Spain’s tourism numbers are growing, while America’s are contracting following the election of President Donald Trump. Not only is Spain’s tourism industry growing, but it’s growing at a rate higher than any other leading destination.

The figures from the UNWTO show that the US received €173 billion from tourism in 2016, which makes it the clear winner. Spain came in second, followed by Thailand and China for tourism revenue.

The UK – which came in third place in 2015 – dropped to seventh. The country made €29 billion from tourism, which is the lowest figure for some time. Experts believe that the Brexit – and the effects of the decision – are to blame for this drastic drop.

An interesting figure is that of France, which came in fifth place for tourism revenue in the world in 2016, even though UNTWO figures suggest the country received the highest overall number of visitors. This would suggest that people visiting France do so fleetingly; whether it’s because they are passing through the country on their way to other neighbouring countries, or just because they stay for a few days.

France topped the charts of overall visitor numbers thanks to some 82.6 million visitors across 2016. The US came in second with 75.61 million tourists, followed by Spain with 75.56 million visitors.

What is interesting is how quickly change is happening and the directions of the change. American tourism dropped 3% between 2015 and 2016, and continues to fall across 2017. France saw a 2% drop between 2015 and 2016, and it’s expected the fall will be greater this year following recent terrorism threats.

Spain, however, saw an increase in visitor numbers of 10% across 2016, and all the signs are there for an even stronger 2017; which could leave Spain clinching the top spot by the end of the year.

May Data Shows 5.3% Property Price Increase Across Spain

May Data Shows 5.3% Property Price Increase Across Spain

The Spanish property market continues to grow

The latest figures from the Spanish National Statistics Institute (INE), published just last week, reveal how average property pricesin Spain during May rose 5.3% higher than during May of 2016.

The increase continues the near-two-year trend that prices have risen year-on-year for over 20-months straight.

The latest INE data shows that price increases are actually accelerating, with the average monthly increases topping between 2.5% and 3%. The reason for the sharp increase is mostly down to the price increases seen in Barcelona and Madrid; where prices have risen 8.8% and 10.6% over last year. The two largest cities of Spain are benefiting brilliantly from the strengthening Spanish economy, bringing in great investment into the privateand commercial real estate sectors.

There is more encouraging news as property prices across the 17 autonomous communities of Spain are all up, even though some of the rises – such as those in Extremadura, Murcia, and Galicia aren’t very big.

First quarter data from before May also shows property prices increased 2.3% over the previous quarter, marking the seventh quarterly increase in a row and showing a sharp rise for the small amount of time it happened in.

Property experts and analysts welcome the increases. Even though Spanish property prices are around 40% lower than the peak of 2008, the sustained increases showcase how the post-boom market has begun to reflect true value, offering the banks, mortgage lenders, and homeowners the peace of mind they need.

Data Shows Spanish Property Growth Fuelled by Foreign and Domestic Buyers

Data Shows Spanish Property Growth Fuelled by Foreign and Domestic Buyers

The future looks bright as more and more confidence in buying returns

The Notaries Association of Spain recently published the property sales figures for March, showing an increase of 19.5% in transactions for the month compared to March of 2016.

If this increase wasn’t enough encouragement, the data shows the interest from domestic and foreign buyers is becoming better balanced.

Domestic buyers – who still remained the bulk of the market thanks to their numbers – fell out of love with the property market during the recession. The property market was kept in good health thanks to an increase of demand from British, German, Russian, and Scandinavian buyers.

2017 brought with it a stronger Spanish economy, which increased the confidence many Spaniards have in their financial security, driving up the amount of property and car purchases.

Spain remains a country of contrasts and not every market in every region is seeing the same performance. The new build home sector is still lagging behind, while sales of apartments are up 20.5% and family homes are up 15.6%.

The data from the notaries also revealed the average sellingprice of properties reached 2004 levels. They aren’t quite at the height of their peak, but they are still higher than they have been for some time.

An interesting finding by the Land Registry, which ranks sales based on the number of homes inscribed on the land register and not in terms of actual sales, showed that March saw an increase in transactions of 30% compared to March of last year.

Data Shows Spain Still World Leader in Top Quality Beaches

Data Shows Spain Still World Leader in Top Quality Beaches

Beaches is Spain and the Costa Del Sol continue to be

clean and will awards

Spain can keep its reputation as being the country with the best, cleanest, and safest beaches in the world thanks to its impressive 579 blue flag beaches.

The Association for Environmental Education and the Consumer (ADEAC), the body in charge of designating blue-flag beaches, has kept Spain as the top of the charts for another year in a row; a streak that has existed since way back in 1987.

Being designated a blue-flag beach means meeting some stringent criteria. The ADEAC assess the hygiene, safety, sanitary conditions of a beach, along with the accessibility and provisions of lifeguards. While the number of blue-flag beaches in Spain has dropped by 7 since 2016, it still proved itself to be the best in the world for safe bathing.

In terms of individual regions, Valencia is home to the most blue-flag beaches – with 129 – while Galicia to the northwest has 113, Catalonia has 95, and Andalucía – where the Costa del Sol can be found – has 90 blue-flag beaches.

The Murcia region, which sits not far from the Costa del Sol, lost 16 blue flag beaches compared to last year; the largest drop nationally.

Greece boasts the second-highest number of blue flag beaches after Spain, followed by France, Turkey, Italy, and Portugal.

Spain became the top of the charts thanks to its marinas, which boast an impressive 100 blue flags collectively. With another five blue flags for cruise ship ports, Spain is home to 684 blue flags in all – the largest number for a single country.

Latest Data Finds Spain is Home to 30% of Vineyards in EU by Area

Latest Data Finds Spain is Home to 30% of Vineyards in EU by Area

Spanish wine has always been placed in a bit of a unique position by the wine drinkers of the world.

Spanish wines have long been considered the best in Europe

It’s not quite as traditional or exceptional as French wine, nor is it as romantic as Italian wine. It doesn’t carry the buzz of the New World wines of Chile, South Africa, and Australia. Spanish wine is the kind of wine you take with you for a housewarming party. It says you aren’t cheap, but that you aren’t going to splash out either because your friends have a new house.

This “everyman” nature of Spanish isn’t a bad thing however. It is because of this that Spain has become the largest wine producer in the European Union, according to data released by Eurostat this week. The data shows that Spanish vineyards account for 30% of vineyards in the EU.

With 940,000 hectares, Spain has a larger area of vineyards than any other member of the EU. France came in second with 803,000 hectares (25%), with Italy snatching third with its 610,000 (19%). Portugal was a distant fourth, with only 199,000 (6%).

There’s an interesting statistic hidden in the data. Romania – which is the fifth-largest wine producer with 184,000 hectares – is also the EU country with the most individual wineries. There are 855,000 wineries in Romania, putting it well ahead of Spain, which came in second with 518,000 wineries.

Spain is still one of the most important producers of plonk in the EU however, as grapes from Spain are used not just in Spanish wine, but also in French and Italian wines. The Castilla-la-Mancha region of Spain is the largest wine producing region; housing 434,000 hectares – 14% of the entire vineyard area of the EU. The other large regions are Languedoc-Roussillon (293,000 hectares) and Aquitaine (144,000 hectares) which are in France.

The EU has a total of 3.2 million hectares of vineyards spread among 2.4 million individual sites. Most nations in the EU have some vineyards at least, all the way from Romania to the UK (553 vineyards) and Luxemburg (326 vineyards).

There are a few EU countries with absolutely no vineyards. They include Belgium – which has beer, Ireland – which has Guinness, Latvia, Estonia, and Lithuania – where the weather is too cold, Poland, Finland, and Sweden – with similar weather issues, and, perhaps most surprisingly, the Netherlands.

Data Forecasts Spanish Unemployment Drops Below 17% for First Time in Years

Data Forecasts Spanish Unemployment Drops Below 17% for First Time in Years

Its official when the economy is moving in the right

direction unemployment drops drastically

Spain saw unemployment soar to the record rate of 27% in 2013, but is now looking at ending 2017 with less than 17% unemployment for the first time in years.

While there is still the myth that the Spanish economy is still stagnant, official figures from government and European bodies show that Spain has been one of the strongest economic performers in the continent for the past 18 months now.

While 17% unemployment could still be considered pretty high, in relative terms it means Spain is on course for another year of strong economic growth. The rate of unemployment fell to 18.6% in 2016, and it’s predicted that it could fall another 2% during 2017; which would mean over half a million more people in work.

This was the message spread by the Spanish Economic Minister Luis de Guindos last week. The Economic Minister admitted that the unemployment rate in the country was still inadequate, but was still very bullish overall on the long-term prospects.

Economic growth topped 3.2% GDP in 2016, with similar levels of growth expected for this year, and a further +2.5% growth expected for the next four years. The queues in the job centre are getting shorter, and thousands of educated Spanish youth are returning from Germany, the UK, and wherever else they have been, creating what economists feel is more of an opportunity than a burden.

Youth unemployment in Spain is still one of the highest in Europe, reaching over 25%, but there has been plenty of recovery in other industries; evident by the rising number of Spaniards being issued with mortgages. This has left the Spanish youth more confident about their chances of securing a bright future in their home country.

Land Registry Data Shows Spanish Property Sales up 19% in One Year

Land Registry Data Shows Spanish Property Sales up 19% in One Year

Spain property sales continues to break sales records

As if there wasn’t enough evidence out there that the Spanish property market has picked itself back up, the latest data from the Land Registry offers even more.

There are many different ways to measure how healthy the Spanish real estate sector is – such as mortgage data, notary data, data from the National Statistics Institute (INE), and search trends. Perhaps the most accurate way to measure this success would be the land registry.

Property sales in January of this year were shown to be 19% higher than in January of last year, which is the biggest increase for January since 2008; according to leading Spanish property agent Mark Stücklin.

Stücklin said that sales figures had been inflated in 2011 and 2013 due to government interference; referring to tax incentives issued during these lean years.

Stücklin is confident that this shows 2017 is truly the best start to a year as far as property sales go since the boom period ended. It also appears that there is plenty of demand across much of the country, with no region coming out ahead of the crowd.

The land registry data shows that the biggest transaction rise in January occurred in the Balearics, which saw an increase of 40%, followed by the 36% in Barcelona, 35% in Costa Dorada and 28% in the Costa Brava.

Property sales on the Costa del Sol were up 20% in Janary compared to last January, pushing it above the national average and a clear sign that property sales will remain strong across 2017 despite the looming concerns of Brexit negotiations and how they impact British buyers.

As far as the property types go, resales increased 21% compared to 2016, with 8% more new homes sold. Stücklin said that it was a reassuring sign that the recovery of Spanish home sales will continue into 2017, and that the increases seen in Alicante and Malaga suggest that international buyers are coming forward.

The Brits were still the largest single nationality in terms of foreign buyers in January, accounting for 11% of foreign buyers. Second was the Middle East with 8%, while Scandinavia came in third with 7%.

Data Shows Chinese Investment Grows Four-Fold in Spain in 2016

Data Shows Chinese Investment Grows Four-Fold in Spain in 2016

More and more Chinese investors are coming to invest in Spain

Data from investment firm Baker McKenzie shows Spain has become the seventh-most attractive European country as far as Chinese investment goes, with over €1.7 billion of Chinese money entering the Spanish economy during 2016.

China, which is the second-largest economy following the United States, has started to become a more active investor in Western economies for some time now, and is a great investor in African infrastructure.

Most of the Chinese money entering Spain during 2016 went into infrastructure, entertainment, and the real estate industries. The Dalian Wanda group is one of the primary investors in real estate industries as China is purchasing commercial and residential property across Spain.

Other areas of Spain that have felt the financial clout of China are the sport industry (including a €200 million purchase of La Liga football club RCD Espanyol by toy car magnate Chen Yansheng), aviation, and the environment.

Baker McKenzie partner Maite Diez says that Chinese investors have been attracted to sectors in European countries such as the food industry because they gain access to supply chains. There is a growing demand for high-quality products in China, so these investors are keen to get their hands on them.

Chinese people are fans of Spanish products including wine, cheese, and olive oil, while the country is also beginning to embrace Spanish films and fashion. Tourism is also a major draw or the Chinese; Spanish cities are becoming hot destination for the growing middle class of China. They may still avoid the beach resorts of the country, but they are drawn by the inland areas.

Many European destinations are becoming cheaper for travel and investment for Chinese people, and this has caused an increase in demand as a result. While the typical Chinese tourist would once want to take selfies in front of Big Ben in London, the modern Chinese tourist wants to head all over Europe, including Spanish wine country and Provence in France.

Chinese firms have become quick to build up portfolios of Spanish real estate. They are investing in more than just residential properties too; picking up hotel chains, shopping malls, and movie theatres.

Much of the Chinese investment in Europe is still going to the UK, Germany, Switzerland and Finland, but Spain saw the sharpest rise in Spanish investment.

New Data Shows Spanish Property Prices to Increase 1.8% in February

New Data Shows Spanish Property Prices to Increase 1.8% in February

Prices continue to surprise everyone as the recovery is in full swing

The strengthening property market of Spain has recorded growth in mortgages and prices, and has been one of the backbones of the increase in job growth over the past few years. The latest data from the valuation company Tinsa shows that average Spanish property prices were up 1.8% in February of this year compared to last year.

There have been 11 monthly price increases over the past 12 months, and Tinsa say that this is the best rise year-on-year, and continues the trend that began all the way back in 2014.

Breaking it down into regions; the Balearics was the region with the deepest property price increases. Average home prices rose 4.4% here. The Canary Islands came in second, with 4%.

It won’t come as much of a surprise that these are the two markets leading the way this time of year. The Canaries are popular all-year round. The interest in tourism and property stays strong during the winter, unlike mainland regions thanks to the climates of places such as Lanzarote, Tenerife, and Fuerteventura.

While the Balearic islands do experience a similar climate to the south of Spain during the winter, property prices are pushed up and above the average due to the difference between supply and demand. The islands are always popular, but they are too small for unrestricted housebuilding.

Back in the mainland, regional capitals – such as Malaga in the Costa del Sol – saw average property price increases of 3% during February, while there was an average increase of 0.9% for the Mediterranean coastal regions since the start of the year.

Tinsa published further data that painted a broad picture of the trends of the Spanish property market, including an increase in building licenses of 28.9% during 2016 compared to 2015, along with mortgage approvals increasing 14.8% over the space of a year.

Unemployment fell by 9.7% in 2016 according to the Tinsa data, which is why home transactions increased 13.8% during 2016 compared to 2015.

Data from Fourth Quarter Reveals Strengthening Spanish Economy

Data from Fourth Quarter Reveals Strengthening Spanish Economy

Everything is looking Rosie for Spain

If you were to keep a close eye on the Spanish economy, the recovery might appear to be a little slow. With the benefit of hindsight however, we see that the impressive economic turnaround the country has seen since 2014 is nothing short of special.

Spain is still suffering from low wage growth and a high unemployment rate, but you would have had your hand bitten off if you’d offered the 2016 economic data of the country to anyone – from bank manager and financial analyst to average Joe on the street – from 2010.

Spain saw a welcome increase of 3.2% GDP for two years in a row, and has now reached the point where it is doing far more than just recovering from the double dip recession. Spain is currently on course towards becoming a shining economic beacon of light in the EU.

The latest data published by the National Statistics Institute (INE) this week shows that the Spanish economy grew 0.7% over last year during the fourth quarter of 2016. This economic success was fuelled by the success seen in tourism, exports, and industry.

This performance at the end of the year continued the trend that has seen 24 months of sustained economic growth. It’s thanks to this growth that Spain has entered the top three for Eurozone economies. The country has come a long way since the days between 2008-2013 when unemployment rates went out of control, the youth fled the country in the thousands, and everyone responded with scepticism at the prospect of economic recovery.

Things have certainly changed. There is still a high unemployment rate (over 16%) but Prime Minister Rajoy and his labour reforms are helping stem the tide and improve the job market. Spain is also seeing the benefits of the economic recover across the rest of Europe, in particular the boost to Spanish tourism and real estate thanks to all the foreign money flowing in.

Economists in Malta are expecting this year to see a growth of between 2.5-2.7%, which might not be as much as in previous years, but is still a sign of the solidity that would have been just a pipedream four years ago.

Around 74,000 new jobs were created each month in 2016, and it’s expected Spain could see similar results this year. Spanish economy minister Luis de Guindos said that quarterly growth could be similar to what was seen last year. Given that the country was dealing with political strife last year and still experienced incredible growth, the estimates from economists could prove themselves to be conservative. No matter what though, it’s hard to deny that Spain has started 2017 as healthy as it's been for over10 years.

Data from Notary Reveals Spanish Property Prices Increased 5.67% in 2016

Data from Notary Reveals Spanish Property Prices Increased 5.67% in 2016

Spend enough time on the internet and you’ll be able to find some headline, statistic, or opinion that matches any kind of preconceived notion you might have. The Spanish property market is no exception.

Spanish Property continues to sell and increase from previous years

Several media outlets are all too happy to keep painting their picture of grim desperation. One source even tried to claim that Spanish property prices are in the middle of an alarming freefall.

It’s quite easy to debunk these stories, mostly because every respected economist and analyst in the country has examples of reliable data showing that property prices continue to increase across the country following 2014, when they hit rock bottom.

The actual figures might differ between establishments such as the Deutsche Bank to the National Statistics Institute, the trend is clear and unchanging; prices are on the rise, and have been so for three years now.

The latest figures published this week by the Spanish Notaries Association further confirms the trend, as it shows the average price per square metre in Spain increased 5.67% during 2016 compared to 2015.

The notary data shows that foreign interest was as strong as ever in Spain during 2016, as 13.25% of all homes sold in Spain were sold to non-Spaniards. In terms of real data, this is around 53,000 homes; 19% of which were sold to British buyers.

This means that Brits are responsible for 2.5% of every homesold in Spain in 2016; double the amount of properties purchased by the Germans; who are the second-strongest foreign market.

UN Data Shows Fewer Spaniards Emigrate Abroad Than any other European Nation

UN Data Shows Fewer Spaniards Emigrate Abroad Than any other European Nation

Spain is a wonderful place to live and with it

being so great why leave ?

Everyone knows that Spain is the most popular choice for holidays and property in Europe, which just goes to show the appeal of the country for Europeans, Americans, and everyone else across the world.

Now some interesting data has been released by the UN showing that only 2.7% of Spaniards choose to live abroad; this is the lowest figure in all of Europe.

The UN map shows that many nations in Eastern Europe experience high rates of emigration from the native population. Bosnia and Herzegovina in particular lose 43.3% of their native population to other nations.

The rest of the top five is made up of Albania (38.8%), Macedonia (24.8%), Portugal (22.3%) and Montenegro (22.1%). Other top scorers included Ireland at 18.8% and Romania with 17.5%.

7.6% of native Brits are currently living abroad. The Scandinavian countries seem to offer enough to keep the natives at home as Norway and Sweden have only 3.7% and 3.4% of their native population living abroad respectively, while Finland has 5.4%.

There were a few years when the recession got really bad in which thousands of Spaniards flocked the Germany and the UK to find work. While a number of these people chose to stay where they ended up, the UN data shows that, as the Spanish economy recovered, the Spaniards came back home.

Given the affordability of the country, along with the fine Spanish cuisine, climate, and natural beauty, it’s understandable that Spain manages to be a perennial favourite with Spaniards and foreign visitors alike.

The UN put together another map that showcases the most popular destinations for each nation. According to this map Brits are most likely to head to Australia, while the Irish typically go to the UK, Germans head to the US, and most of Eastern Europe heads to Germany.

One interesting piece of data is that Spaniards are most likely to go to France, while the French are most likely to go to Spain.

Data Shows Half of Retired British Expats Living in Europe Are Registered in Spain

Data Shows Half of Retired British Expats Living in Europe Are Registered in Spain

With the wonderful weather and low cost f living

its no wonder why so many Brits want to live in Spain

The BBC issued a freedom of information request and the results show just how many British retirees living in the European Economic Area (EEA) – which includes every EU state, along with Iceland, Liechtenstein and Norway – are registered for reciprocal healthcare in each country. From the looks of it Spain is quite popular indeed.

The BBC found that, across the EEA, 145,000 British expat pensioners are registered for healthcare provided by the EU reciprocal agreement.

Over 70,000 of these people are registered in Spain; way more than the 43,000 registered in France.

On the other hand only 201 French pensioners and 81 Spanish pensioners are registered to receive reciprocal healthcare in the UK; showcasing the factors retirees consider when choosing a destination; the sunshine, warmth, and slow pace of life. There’s a lot of good things about the UK but it seriously underperforms in these three categories.

Spain, by comparison, boasts an incredible climate, great healthcare and infrastructure and, of course, the world-renowned Mediterranean diet.

Given how many retirees from the UK are living in Spain the amount of retirees registered for healthcare in the country might sound a little low. However this can be explained quite simply; many of those retirees are wealthy and will likely choose private healthcare; something else Spain handles incredibly well.

The report also showed the BBC that just £674.4 million was spent providing these pensioners in the EEA with healthcare; which should put to bed the arguments about how these pensioners are draining the services of their host countries through cost of living expenses.

Britain also received £49.7 million from other EEA countries to cover healthcare costs for their citizens.

Data Shows Spain has Regained Half of Jobs Lost During Recession

Data Shows Spain has Regained Half of Jobs Lost During Recession

Spain really turned things around in 2016 and it looks like the success is set to continue into 2017. One particularly great statistic is that the Labour Ministry released data showing that Spain has now recovered 1.7 million of the 3.5 million jobs that were lost in the country during the recession.

Spain is recovering from all downturns even jobs

Over 540,000 Spanish people entered the workforce during 2016. This was the largest annual employment growth in over a decade and is a sign that the country has managed to succeed following the post-election reforms; adjusting perfectly to the improving economic situations of Europe.

Labour Minister Fátima Báñez says that there were 390,534 less people registered as unemployed in 2016; the largest drop ever in unemployment. Báñez said that the year was filled with confidence and hope and, while the journey isn’t over yet, Spain will continue to create jobs thanks to the efforts of everyone involved.

It’s incredible to look at the most recent employment charts for Spain. Around 2008 there was a sharp dip in the amount of Spaniards registered as employees (meaning they had a social security number), and it reached a peak low of 16.2 million in 2013. There has been an encouraging rise since then, and it’s expect that there will be over 18 million people in work by the end of 2017; the first time this number has been reached since 2009, before the recession really crippled the country.

There’s a lot of optimism to go around following a growth in GDP of 3% last year, along with predictions that this year will see similar rises and the cost of living being kept low. The end of the political deadlock after 10-months of seemingly endless fighting has also come to an end and left behind a government in the People’s Party that will need to learn the value of compromise.

While some are worried about the influence that the far-left Podemos and the centre-let Socialists could have on the PP, and that it could lead to less of the successful labour reforms Mariano Rajoy introduced when he held a majority government not being allowed to pass anymore, there are some economists who feel that the country can survive without additional reform.

It looks like the most sensible move to make would be to continue on the current path. Báñez says that the PP is ready to sit down with the other political parties to discuss how labour reforms could be improved, and promised that none of the changes to laws implemented, such as making it easier or employees to be hired and fired, would be repealed.