Spanish Mortgage Activity up 10% in September

Spanish Mortgage Activity up 10% in September

The property market continues its recovery in the

Costa del Sol and Spain

There’s been more good news for the Spanish property market with the publication of the latest official data. It showed that the amount of mortgages approved during September was up 10% over last year.

The data from the National Statistics Institute (INE) shows that 26,667 mortgages were approved in September, which is further proof that the property market in Spain has managed to recover from the damage of the credit crunch.

The data is also a continuation in the positive trend changing the face of the industry across the past 18 months, as well as a confirmation that property prices are still increasing, along with confidence from both consumers and banks.

The data from the INE showed that there was also an increase in average loan capital during September. This was up 2.2% to €113,193, the highest that it’s been for over five years. The news was positive in every one of the 17 autonomous communities of Spain. The Canary Islands in particular reported there was a massive gain in approvals with an increase of 45.2% compared to last year.

The story in Andalucia, Catalunya and Madrid was pretty similar. These property markets are being boosted by an increase of both domestic and foreign buyers in Spain.

When you look at the last 12 months the number of mortgage approvals in September brings the total number of approved mortgages up to 270,000; an increase of 13.1% over the previous 12 months. The data for the first nine months of 2016 shows that there were a total of 212,587 mortgages approved, which is an increase of 12.6% over this period in 2015.

September Sees 12% More Brits Visit Spain

September Sees 12% More Brits Visit Spain

The Costa del Sol has broken all records yet again

Spain is still going through one of the best years fortourism ever and the latest data from the Tourism Ministry shows the good year continues on because September saw 12% more British people than September of last year.

According to the data some 2 million Brits came to Spain in September; making for a grand total of 14.4 million Brits out of 60.3 million tourists across the whole year.

Spain saw a total of 7.9 million tourists in September, which was an increase of just over 10% over 2015. During the three-month period of July to September there was a total of 27.6 million visitors to Spain, an increase of the 25 million from 2015.

The Tourism Ministry predicts that Spain will see 74 million tourists by the end of the year, which would be a new record. Almost everyone is welcoming this news from hoteliers and bar owners to anyone watching the economy.

There are plenty of resorts that have the ability to handle these visitor numbers, there are also places such as Barcelona and Majorca that are already stretched to their limits.

The good news is that there is still room in the Costa del Sol for more hotels, resorts, and anything else visitors could want without disrupting the balance that makes buying property in the Costa del Sol and the surrounding areas uch a favourite with tourists.

Tour operator Exceltur undertook their own research that suggests that the number of tourists who become “officially registered” by booking at a hotel has gone up by 2% over the past two years. During these two years there has been an increase of 75% in private rentals.

Almost 400,000 Homes Sold in Spain Across 12 Months to September

Almost 400,000 Homes Sold in Spain Across 12 Months to September

Data from the Office of National Statistics in Spain shows that some 395,000 homes were sold in Spain across the 12 months to September.

Spain is back with more and more homes being sold.

This number indicates a year-on-year increase of 13.2% and is the most homes sold across a 12 year period since the 12 months leading to July 2011.

This 400,000 figure might be less than the 775,000 homes that were sold during 2007, it is still a strong sign of the Spanish property market is becoming more active and healthy. It is also a continuation of the growth period that has seen price increases in 24 out of the past 25 months.

September 2016 saw 34,931 homes change hands, which is an increase of 13% over September 2015. When looked at as a whole the year of 2016 has seen some 311,000 properties sold so far; an indication that 2016 could see the most homes sold in a single year since 2008; which was the last year before the Spanish economy went into a recession following the global credit crunch.

Andalucía saw over 100 homes sold per 100,000 thousand residents, which would suggest that there is a split between the numbers of local, domestic, and international buyers.

This has always been the way things work in Andalucía. The Andalucían property market is supported by the sales across the Costa del Sol; particularly the sales of the luxury homes that are made available to wealthy buyers through and around Marbella.

Three Great Reasons Spain Should Welcome September

Three Great Reasons Spain Should Welcome September

If you’re British or Irish then you likely remember the feeling of dread that came with September; schools opened back up and it was the official end of all the fun and games of the sumer.

September in Southern Spain is one of the nicest months

Back in Blighty September means that the sky turns grey, the wind whips up, the thermometer goes down, and millions of people head back to school and work with the memories of summers spent under the sun washed away by the autumn rain that pours down.

As such you aren’t likely to feel much sympathy for those who live along the Costa del Sol who will be happy the summer is ending as it means the tourists are going home, including those taking part in Operación Retorno, and the roads return back to normal.

The tradition of Operación Retorno, when northern Spaniards head back home, doesn’t make a lot of sense when you think about it though. It’s true that they need to head home for school and work but it’s also true that September is one of the best times to see the Costa Del Sol.

Just like a beach with rockpools will only show its true beauty after the tide goes out, the Costa del Sol comes to life during September. The so-called “shoulder months” of the summer, which are May and September, are deeply enjoyed by many locals and it’s not hard to see why.

1.      The Temperature Goes Down

July and August are the hottest months in Spain and it’s not that unusual for temperatures to reach above 40 Celsius during this time. While the temperature doesn’t nosedive in September it still goes down to a more forgiving 30 Celsius which makes all the wonder of the area that much more pleasant.

2.      Queues Shrink

No matter what it is you’re trying to do; from ordering a drink, to shopping, to just validating your parking, everything is more accessible in September. September presents a perfectly balanced atmosphere. While it’s no fun to be with too many people it can be just as bad to have no people around at all. There is still the feeling of summer in the air but moving in and around the area becomes much easier.

3.      Spirits are Lifted

Summer might be a fun and happy time along the Costa del Sol, but you only really get to have fun and relax after you’ve created some space for yourself on the beach on the Costa del Sol or escaped into one of the smaller and quieter resorts of the south. Everyone is a lot more temperamental during the summer months because of a mixture of heat, crowds and confusion. It throws everyone’s moods out of whack. Things slow down after September arrives though and everyone is just that little bit brighter and happier because of it.