Property Sales in Spain Reach Second-Highest For Five Years During Third Quarter

Property Sales in Spain Reach Second-Highest For Five Years During Third Quarter

The Costa del Sol and Spain continue its property recovery

The latest data from the Spanish property registrar shows that a total of 103,055 homes traded hands in Spain between July and the end of September; representing the second-best quarterly performance in Spain for five years.

When compared to the third quarter of 2015 there were 11.1% more homes sold in the third quarter of 2016 as the property market became more active during 2016.

The third quarter was also up 4.4% over the second quarter of 2016 and showed the trend of each quarter being stronger than the last has continued since it began in 2010.

When you look at the 12 months leading to September there were 394,000 homes sold in Spain overall. This is an increase of 13.2% over the previous 12 months. 2015 itself was also a continuation of the growth the market saw in 2014, which is when the property market began to recover from years of contraction.

To look back even further shows that the amount of homes sold throughout Spain in the third quarter is the second-best quarter for five years; beaten out only by the fourth quarter of 2011 in which there was a mass fire sale of distressed properties.

Many experts expect that this upward trend will continue on into 2017 and the years after; thanks to the economic recovery of Spain and the consistent appeal the country has for being a premier destination for going on holiday and purchasing property to the people of Europe and the world as a whole.

Not everyone was feeling the positivity however as the data showed that the average price for property sold in the third quarter was 1.4% the average price from the second quarter.

Experts explained away the shrinking average price – prices in Spain have been increasing for around 18 months now – saying that it was mostly due to a shrinking number of new build homes being sold. New build homes are usually more expensive than a resale home and so they can provide the average sale price with a healthy boost.

The data from the registrar shows that only 17.1% of the homes sold in the third quarter were new builds, which was down from the 21% from the quarter before.

Even though there was a small fall in the average property price your average home in Spain is still being sold for around 3.3% more than it was this time in 2015.

Five Ways to be a Happy Expat

Five Ways to be a Happy Expat

Spain is one of the most open societies and more

and more Expats are moving to Spain

It can be quite peculiar to live life as an expat in Spain. You have the opportunity to be somewhat of an ambassador, while also the anxiety that comes with living somewhere brand new and different.

Unfortunately there is no single path to success for expats. Putting in more than you take out, keeping your mind open, and leaving the people you meet and the places you stay richer is certainly the ideal but it’s just that; an ideal. The reality of expat life is often very different. So why not focus on being a happy expat rather than being a perfect expat?

Here are five ways to be happy expat and ensure that no matter how long you live overseas, you’re happy for having done it.

Don’t be so Hard on Yourself

You’ve probably already met the perfect expat; they are able to move between English and Spanish at the drop of a hat; have a wide range of friends from the world over; they get involved with the local community but still raise their family and, to top it off, they have a brilliant car. There’s someone like this in every expat community. There’s someone who seems to have made it without any effort at all.

It’s incredibly daunting for you to be around these people, but you should go easy on yourself. You can’t imagine the ways that life overseas will test you. Some people are able to thrive and really prosper in the brand new environment and some people have a harder time of it. Never forget that you are who you are; if you were introverted back home you will likely still be one when living abroad. That’s just who you are and you need to remember that.

Be Open Minded and Willing to Leave The Comfort Zone, But Only if it Suits You

With that said there’s still no better chance to broaden your horizons and try something new than when you move overseas. It’s obvious you’ll meet a new language, see new faces, and try new foods; these are unescapable facts of expat life. There’s plenty of other new things to try though; the new surroundings you live in have the potential to get new hobbies, learn new skills, or chase that dream you gave up on long ago because there’s no one to around to judge the “new you”.

It’s truly liberating. One of the best things about living in a new country is that you are able to try all of these new things and figure out just what you want to get out of your new life and how you want to live it.

Be Magnanimous and Avoid Taking Sides

When you become an expat you have the country you were born and the country you live. It’s likely that you’ll come to see what’s good and bad about both countries with a kind of clarity you never had before. If you want to be a truly happy expat you need to avoid taking sides. Don’t complain about your old home because you will get home-sick eventually. You should also take off the rose-coloured glasses and avoid thinking that life back home wasn’t all that bad. Remember that you moved away for a reason; remember that reason.

With this said the country you move to is going to delight and annoy you in equal amounts. So for the sake of your sanity, and the sanity of those around you, that there’s nowhere that is truly perfect and no one wants to hear you boast or complain about how your new life is going.

Keep Things Balanced While Still Enjoying Variety

When you move to a new country you will be tempted to avoid expats that come from the same country as you. This urge can be understandable but sometimes it’s just irrational. You don’t want to find yourself stuck with an expat who sees you as fresh meat that they can invite along to anything and everything, but at the same time there’s not much better than sharing an evening with someone who have the same cultural background as you.

It’s important to find a balance. You shouldn’t avoid the British pub; just don’t spend every evening there. Take a trip to the tapas bar and the bodega. Make some local friends and find time to visit the establishments and enclaves of other nationalities. Having such a diverse range of influences and opinions is part of the fun of being an expat so allow yourself to embrace it.

Head Back Home When you Want; Flights are Pretty Cheap

Brits living in Spain have it pretty easy when it comes to flying home regularly. It’s easy and cheap to fly from Malaga airport to the UK all through the year. Make use of these cheap flights. Keeping up your connection to the mother land will ensure you enjoy both destinations as much as possible. Regular visits home stop you from getting too homesick and it can be liberating to leave that expat bubble you’ve been living in every so often.

Spanish Homes Sold at Highest Volume in Five Years

Spanish Homes Sold at Highest Volume in Five Years

The Economic Ministry published new figures last week that show the amount of Spanish homes sold in June was higher than for the past five years.

Spain is defiantly back and investor are buying

The data shows that some 36,856 property transactions were registered in Spain during June. This was a 19.4% increase on June of last year and is the most homes sold in a single month since August of 2010. The figure also shows that there are 100 sales per 100,000 inhabitants of purchasing age; a threshold that has always been seen as the mark of a strong property sector.

Sales were on the up in 15 of the 17 autonomous communities of Spain during the month. The only communities that failed to report an increase were Navarra and La Rioja. June also can’t be considered a blip on the radar. For the year-to-date the average number of monthly transactions has increased by 16.4% compared to last year. Even taking the trend to the full past 12 months shows an encouraging increase of 14.7%.

The Spanish property market hasn’t seen such an increase in activity since August of 2011. It’s especially encouraging given that Spain is recovering from one of the worst recessions ever seen. Now though the Spanish economy is recovering and GDP is set to grow by over 2.7% this year and next year. Spain is also seeing a bumper summer season that is bound to brighten up those dark post-recession days and make them a thing of the past.

More encouraging data about the Spanish recovery and popularity came from the Airports Council International Europe (ACIS) this week. They found that the Malaga and Alicante airports are two of the fastest growing airports in Europe, seeing an increase in passenger numbers for the first half of 2016 of 14.6% and 16.1% respectively.

Elias Bendodo, the president of Turismo Costa del Sol said that the figures confirm what a great year the Costa is experiencing. Spain is seeing record numbers of tourists and are growing in the European market as a whole. If the first half of 2016 is anything to go by it looks the 2016 will be a record year for tourism in Spain.

Expert Predicts Next Five Years Will be Great for Spanish Property

Expert Predicts Next Five Years Will be Great for Spanish Property

According to one professor the outlook for the Spanish property market is great. The real estate expert said that now is the best time to purchase property in Spain. His confidence comes from all the data and trends that suggest the next five years will be truly great for the Spanish property market.

The future is still bright for property in Costa del Sol

The expert in question; the economics professor and director of the real estate programme at the University of Barcelona Gonzalo Bernardos is definitely in a good position to make such a claim about the health of the property market.

No doubt his words are going to be eaten up by the thousands of people who are considering buying property in Spain. His words will definitely be welcomed following the uncertainly of the Spanish property market after the Brexit, which threatened to undo all the good that went into the property market in recent years.

Bernardos believes that 2016 will be the first year in the five-year golden period of expansion; a period in which every property asset will grow in price. Mark Stucklin, a property insight expert, took Bernardos’ words to mean that Spanish property is definitely going to be a one-way bet for the next five years. People looking to invest in property would do well investing in the popular areas of Spain such as Barcelona, Madrid, Ibiza and Merbella, along with most of the Costa del Sol.

But just what is behind the confidence Bernardos feels? He also added that the low interest rates of Spain are helping make property there even more attractive and that the recent economic recovery is helping to create a perfect storm.

He says that the residential market in particular is becoming a refuge for investors once more and that a key part of this is the low interest rates. The low interest rates are helping to make monthly mortgage payments far more affordable than the average rental prices. With this expected five years of growth and better job security Bernardos believes that it makes sense for people to begin buying rather than renting.

Bernardos believes that the disastrous decade that was from 2006-2015 will be followed by five fantastic years of an excellent property growth from investors . The interest from investors, coupled with the strong economic growth, will see the end of the hangover and bring the real estate market to providence.

These are definitely decisive words. Bernardos is also confident that if another international economic shock happens it will be mitigated by an increase in spending in Spanish households and company investment with a focus on construction.

Bernardos even had some words for people who were worried that his words sounded as if they came from ten years ago. He assured those people that there will be no room for speculators in this new golden property market.

He added that even if speculative demand does make a reappearance it will be much lower than last time and that banks have learned their lesson and will not give people money to fuel their speculations.

Spanish construction industry Reaches Five Year High Thank to British Second Home Buyers

Spanish construction industry Reaches Five Year High Thank to British Second Home Buyers

Buying property off plan is coming back into fashion as the

demand is returning

Almost half of the Brits buying second homes find themselves drawn to the sun, sea and sand of the Costa del Sol. So much so that a study has shown the number of new builds being approved in Spain has hit a five year high.

The Ministry of Public Works published figures showing that new home licenses in Spain has gone up by 57.1%. This led to a total number of 16,782 new build licenses approved in the first three months of 2016, an increase over last year and the best quarterly result seen since 2011.

The study says that the reason behind the boom in residential construction has been caused because overseas buyers are coming back to the Spanish market once more. Demand from overseas buyers for Spanish properties is on the rise, with a lot of that demand coming from neighbouring European countries.

The leading homebuilder in Spain, Taylor Wimpey España says that the total number of sales so far this year is up compared to last year, with an increase in British buyers of 48%.

With more Brits looking to make their place in the Spanish sun the Costa del Sol has become the most popular choice. Nearly half of these foreign buyers are choosing to purchase property in the region.

The sales and marketing director for Taylor Wimpey España, Marc Pritchard, believes that this summer will be just as scorching for the real estate sector with momentum continuing to build in the market.

He says that construction in Spain is on the rise as the foreign demand is strengthening the real estate market as a whole.

The Costa del Sol has always been the region of choice for Spanish holiday homes and it is taking up that role once more with British people making it their location of choice for second homes.

With British buyers choosing the southern coast of Spain for their homes the optimism the Spanish people feel towards the market increases. It’s expected that these positive trends will continue on for the rest of the year.

Spanish Property Selling at Fastest Rate in Five Years

Spanish Property Selling at Fastest Rate in Five Years

Spain is back as property sales are on the move

2015 saw over 400,000 homes sold in Spain. This was the most houses sold in a year since 2010 and an overall growth of 9.8% over 2014.

The Ministry of Development published data showing that there were 401,281 transactions in 2015. 114,000 of these transactions took place in the fourth quarter of the year suggesting that 2016 will be a strong year for the property market and may even see more records broken.

While this number is a lot less than the number from 2006, when an unsustainable 1,000,000 homes were sold, this is definitely a strong growth that should be more sustainable. The Spanish property market in the Costa del Sol is definitely on the road to recovery after the global economic crisis.

The signs show that, despite the political troubles Spain is going through, the property market should grow even more and experience a distinct shift in nature. In 2006 roughly half of the homes that were sold were second hand homes. However in the last quarter of 2015 this figure was almost 88%. This suggests that the market is stabilising organically rather than because we’re seeing more homes built on the backs of credit.

There are currently more new homes in Spain than the country needs, even after the three year slump between 2007 and 2010 when barely any new property was built. This reveals that the market is likely full of new property that won’t be sold, but has a healthy mix of supply and demand for resold properties.

This is one of the best signs of a healthy property market that is ready to grow at a steady pace and now is the time to buy property in the Costa del Sol.

Spanish Properties Selling At Fastest Rate For Five Years

Spanish Properties Selling At Fastest Rate For Five Years

Spain’s property market seems to be recovering, as evidenced by the 401,000 homes sold last year. These sales provided Spain with the most houses sold in a single year since 2010 and saw a growth in sales of just under 10% over last year.

Spain is back and properties are moving again

The Ministry of Development released figures last week showing that 401,281 transactions occurred last year. A huge 114,000 of those happened in the fourth and final quarter. This great performance at the end of the year suggests that the Spanish property sales should continue in to 2016 and lead to higher sales figures this year.

While this 400,000 figure isn’t as high as the peak that happened in 2006 when one million homes were sold, it’s still a good, strong step in the right direction. These figures are also more sustainable than the 2006 figures and represent the market returning to a good place.

Outside of the political uncertainty that Spain is going through there are still plenty of signs that this growth in the property market will continue in to 2016. Half of all the homes sold in 2006 were second-hand. During the last quarter of 2015 almost 88% of homes sold in Spain were resale property, showing that the property market is moving rather than being pushed by the construction boom.

There is still too much supply in Spain for property right now even after the period of 2007-2010 when most of the construction sites in Spain remained inactive. While this does suggest that there might be some unsellable new properties in the market, the demand for second hand home is as stable as the supply.

This does show that the property market is becoming healthier. Current signs show that the prices are set to steadily rise with interest growing at a sustained rate.

So the future for the Costa del Sol and why to buy property in Spain looks bright. Contact us today for all our latest offeres!