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Showing posts with label property. Show all posts
Showing posts with label property. Show all posts
Monday, 30 September 2019
Tuesday, 10 April 2018
Market Analyst PwC Says Conditions for Investing in Spanish Property are “Perfect”
Market Analyst PwC Says Conditions for Investing in Spanish Property are “Perfect”
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| Spain continues to be a fantastic long term investment |
The financial analyst firm PwC recently published a positive
assessment of the Spanish property market, saying that the sector was “perfect” for investment in 2018. The report, titled Tendencies in the European Property
Market in 2018, looked at leading property markets in the continent, assessing
past performance and potential futures.
PwC believe that 2018 will be as strong as 2017 for the
Spanish property market, with both sales numbers and average prices expected to
increase. An interesting part of the report is the correlation between the
health of the European economy and Spanish property. As European countries get
stronger financially and have better job security, the Spanish real estate
sector improves.
These parallels may be obvious but they aren’t always
clearly defined by historically cautious analysts. Because of how foreign homebuyers affect the Spanish property sector, the more confident and rich
Europeans are the better it is for Spain.
Conditions in the country itself also make investing in
Spanish property attractive for both domestic and foreign investors. Prices are
expected to increase between 4-6% during 2018 and this kind of growth is ideal.
It balances out returns on investment without increasing so much that it scares
financial markets and banks.
When you consider that Spanish property prices are still
around a third lower than they were at the peak of 2007 and it’s obvious that
Spain guarantees value for money when it comes to property.
The report was also impressed by how Spain is able to
maintain interest in the recovery of their property market. Values and sales
have been growing steadily for the past three years now, and PwC were pleased
by this stability. This is why they concluded that Spanish investment
conditions are “perfect”, which is high praise.
Wednesday, 4 April 2018
2017 Sees Nine-Year High in Spanish Property Sales
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| Southern Spain is truly back.. |
2017 Sees Nine-Year High in
Spanish Property Sales
The National Institute of Statistics in Spain (INE) has
published the latest provisional residential property sales figures for 2017
which show last year saw a nine-year high for total property transactions.
This means that 2017 has become the most significant year
for the Spanish property market since 2008, which was when the bubble burst and
the crash began, leaving the real estate industry in a state that it has taken
years to recover from.
Signs have been suggesting that the property market in Spain
has been recovering since 2013, but this latest data marks the first time that
the market has reached pre-crash conditions. Property sales figures increased
across all 17 autonomous regions of Spain, and the 14.6% nationwide increase
over 2016 sales figures left the total figure at 464,423 homes sold in 2017.
This is in stark contrast to the 312,000 homes changing
hands in Spain during 2012, which was when sales started bottoming out at the
height of the recession. 2017 ended on a positive note as well, as the 32,211
transactions recorded for last December was an increase of 9.2% over December
of 2016. It’s also around twice the notary data published recently that
estimated sales would increase 4.5% in December.
The fastest-growing region of Spain last year was
Castilla-La Mancha, which saw an impressive increase in property sales of 24.7%
compared to 2016. This is an area that doesn’t usually bring in foreign buyers,
suggesting that a large part of the uptick in the Spanish real estate sector is
caused by domestic recovery.
Foreign buyers still remain an important part of Spanish real estate though, accounting for around 15% of home buying activity in 2017.
Of this, Brits were responsible for around a fifth of all sales to foreign
investors.
Monday, 15 January 2018
Monthly Sales Figures for Spanish Property Top 40,000
Monthly Sales Figures for Spanish
Property Top 40,000
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The Costa Del Sols continues to grow in property
valuation which is great news
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An analysis of Spanish property sales data by market valuation and appraisal firm Tinsa shows that transactions have stayed steady around the 40,000 mark for the last few months. The performance suggests that the Spanish property market is entering the next phase of growth; a sustained, steady, and encouraging stage of growth that comes after the rapid increases in property purchases found when markets initially recover.
The analysis from Tinsa runs up to the end of July, when
38,841 Spanish properties were sold. This represents a 16.8% increase over July
of last year and also means that – taken as being the end of a 12-motnh period
– property sales were at their highest level for over six years, reaching a
total of 437,000.
All 17 of the autonomous Spanish communities recorded
increases in sales, with Tinsa forecasting that there could be half a millionsales recorded in 2017 – which would be the largest figure for a decade. If
this was to happen though, it would mean monthly sales averaged 44,000, which
sounds a little too optimistic for the current market.
Even so, with sales figures growing steadily and the robust
economy, the Spanish property market can be confident about the 2018 ahead of
them.
Wednesday, 3 January 2018
Spanish Property Market Forecast 9.3% Growth in 2018
Spanish Property Market
Forecast 9.3% Growth in 2018
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| Spanish Property continues its recovery |
It’s estimated that 526,000 properties will be sold in Spain
during 2018 – an increase of 9.3% over the 481,000 home sales expected in 2017.
The anticipated growth will also bring in a nationwide
average price increase of 6.1%, which is just under the 6.9% price increases
from this year. Properties will still be affordable in 2018 however, as even
with this anticipated 6.1% price increase average Spanish property prices will
still be a good 27% below the peak from 2007.
The data comes from Anticipa, one of the leading real estate
providers and analysts in Spain. The firm compared the projections for next
year against the performance of last year – 2016 – and found home sales
increased 21% between 2016 and 2018.
This is an impressive level of growth, especially when set
against the crash in Spanish property less than a decade ago, not to mention
the following economic problems Spain has had, including a recession.
The analysis for 2017 comes from the fourth quarter
projection that home prices are set to increase 5% during the final three
months of 2017.
What’s most exciting about the forecast is the calculation
that over 520,000 homes will be sold next year. This would mark the first time
that over half a million homes have been sold since 2008, which is nearly
double the figure from 2013 when only 285,000 homes were sold.
While the forecast for next year is still around 42% less
than the record 900,000 homes sold in 2006, it’s built on a solid foundation unlike
2006 when the credit bubble was set to burst at any moment.
Tuesday, 5 December 2017
Spanish Property Puts a Price on the Feel-Good Factor
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Spain has been recovering from its worst crisis since Franco day
and continues to do well in all sectors.
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The raw data and the statistics gleaned from it might be
effective for showing the strength of particular trends, but less tangible
emotions come into play with things as life-altering as purchasing Spanish property.
When analysing the most recent positive data for Spanish
property from last month, the leading property consultant of Knight Frank
mentioned that what they called the “feel-good factor” had quite the positive
impact on both the prices and amount of sales of property in Spain.
But just what is the “feel-good factor”? Is it possible to
measure it? Or could it be considered the general sense of excitement about the
current state of the Spanish economy?
Think about the last time you took a great holiday. You
might not remember how much you spent, when your flight was, or even which
hotel you stayed at. What you will remember though is how warm the sun was and
how that made you feel; how you were relaxed when you felt the sand between your toes, and the wonder of al fresco dining with a warm evening breeze.
The Spanish property sector is being washed with similar
positive waves. There’s no doubt that rising house prices, increased sales
volume, and interest in property from home and abroad underpins the overall
positive vibe, but there’s a real sense that it’s Spain’s time to shine under
all the hard data.
There are some problems in the country of course, but Spain
is certainly beaming after spending about a decade as the poor man of Europe.
The effects are starting to spread to the Spaniards themselves, who now have
more job security and better pay than they’ve seen in over a decade. Even the
average holidaymaker and homebuyer is benefiting, as they have a wealth of
choice, affordability, and quality waiting for them in Spain.
The summer may have ended for much of Europe now, but the
sun is still shining – both figuratively and literally – across Spain and it
looks like it’s not about to set any time soon.
Wednesday, 29 November 2017
Spanish Property Sales up 16% in August
Spanish Property Sales up 16% in August
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| Property sales continue to rise |
The only anomaly in 2017 came when figures dipped slightly
in April 2016 – a blip that is believed to be caused by April being the month
of Easter this year.
August saw a nationwide increase in home sales across all 17
of the autonomous regions of Spain, with a 37.9% increase in Castilla-La Mancha
and a 32.5% increase in Comunidad Valenciana, which saw 163 sales per 100,000
inhabitants.
When taken as a yearly figure through the end of August,
Spanish home sales reached 315,795 so far in 2017; an increase of 14% compared
to the same time period in 2016.
Looking even further, the 12 months between August of 2016
and 2017 shows 443,483 properties were sold. This represents an increase of
13.1% over the figure for the previous 12 months and showcases a massive
increase of activity in the property market since 2014, when property sales
were less than 300,000 annually.
Monday, 27 November 2017
Spain Welcomes Record Numbers of Tourists and Foreign Property Activity in First Half of 2017
Spain Welcomes Record Numbers of
Tourists and Foreign Property Activity in First Half of 2017
The Spanish property market and tourism industry is
performing as well as ever, according to the latest data from Jones Lang
LaSalle (JLL) and the National Statistics Institute (INE). The data shows that
several records were broken during the first half of 2017.
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| Spain has had another record breaking summer |
Foreign investment in Spanish properties was pushed up to
€888 million during the first half of the year, much higher than the amount
spent during the first half of 2016; a paltry (by comparison) €330 million.
JLL believe that overseas investors will snap up over €1
billion in Spanish property during 2017, which would make 2017 the eight year
in a row where foreign investment in Spanish real estate has increased.
Spain has been moving at full speed as far as tourism goes
for several years now, but the latest data from the INE shows some 36.3 million
tourists visited Spain during the first half of the year – which is the time
BEFORE the busy summer months of July and August.
This puts Spain in the position to smash through records set
last year, and could mean over 80 million tourists visit the country in 2017,
which would push Spain into the top spot for global tourism.
There was another trend evident in the data; the connection
between foreign property ownership and tourism. Around 8.5% of the tourists
staying in Spain in 2017 did so in their own holiday accommodations; properties
that had been purchased to be holidayed in. This marks the highest this figure
has ever been, and it’s only going to increase.
It’s been a decade since the real estate crisis happened but
now the Spanish property market appears to be thriving. People see the benefits
of owning a Spanish property such as being able to better enjoy holidays and to
relocate entirely. There’s no doubt Spain is set to see another record breaking
year for international investment.
Friday, 24 November 2017
Property Sales up 11% in Malaga
Property Sales up 11% in Malaga
The latest data from the National Statistics Institute (INE)
of Spain shows that at least 15,185 properties changed hands in the province of Malaga during the first six months of the year. This is a 10% increase over the
same period in 2016, and pushes Malaga into fourth place nationally, behind
Madrid, Barcelona, and Alicante.
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| Costa Del Sol is a fantastic place to by property |
On the regional level a third of properties sold in Andalucía – which encompasses Malaga, Almeria, Granada, Cordoba, Jaen, Sevilla,
Huelva, and Cadiz, were in Malaga; the home of the perennial favourite Costa
del Sol.
The Costa del Sol continues to lead the way with its wonderful climate, low cost of living and fantastic lifestyle, welcoming southern Spanish people so its no wonder more and more expats and northern Europeans flock to live and buy property in southern Spain.
Buying property can be a so confusing, so that's why its important to choose a reliable real-estate company who can guild you and give you all the right points for and against buying each property shown. Costa Del Sol Property Group has a wealth of experience so call or contact us today .
The Costa del Sol continues to lead the way with its wonderful climate, low cost of living and fantastic lifestyle, welcoming southern Spanish people so its no wonder more and more expats and northern Europeans flock to live and buy property in southern Spain.
Buying property can be a so confusing, so that's why its important to choose a reliable real-estate company who can guild you and give you all the right points for and against buying each property shown. Costa Del Sol Property Group has a wealth of experience so call or contact us today .
Monday, 20 November 2017
Spanish Property Prices Increase 5.6% in Second Quarter
Spanish Property Prices Increase 5.6% in Second
Quarter
It’s difficult to put together an accurate figure that tells
all about the current state of Spanish property prices. Not only is there
regional variation to contend with, but there are also a range of different
metrics used, including average mortgage loans and recorded transaction prices.
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Property prices continue to rise and recover
from the 2009 crisis
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Perhaps the most accurate metric would be the price per
square metre of residential property. This data is monitored by the central
statistics unit of the Spanish government, which last week revealed that the
average cost of a square metre of Spanish property rose 5.6% in the second
quarter of this year compared to the second quarter of last year.
There were higher price increases in some regions compared
to others. An encouraging bit of news is that 16 of the 17 autonomous regions
of Spain registered increases in property prices. Madrid and Catalonia topped
the tables with respective increases of 10.9% and 9.3%.
At the bottom of the table came Castilla-La Mancha, Murcia,
and Extremadura; recording respective gains of 0.8%, 0.3%, and 0.4%.
The national increase is right in the middle of the
prediction of 4 – 7% annual increases made by Spanish banks just last week.
It’s also a reflection of the general health of the Spanish property market,
which is seeing a steady increase in the amount of sales.
Friday, 17 November 2017
Priciest Spanish Property Neighbourhood Found in Costa del Sol
Priciest Spanish Property Neighbourhood Found in Costa del
Sol
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La Zagaleta in Benahavis is some one of the most
expensive areas in Spain
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Variety is the name of the game when it comes to the Costa
del Sol. Ibiza might have all the clubs, Majorca might have all the cycling,
the Canaries might have stunning weather, and Costa Blanca might have the
beaches, but the Costa del Sol puts it all together and even does some things
better.
Costa del Sol property is no exception. Madrid has some of
the most prestigious Spanish streets, and the inland pueblos of Andaluccan
help you get the most for your money, the Costa del Sol offers a lot at both
ends of the spectrum.
The latest data from nationwide estate agency Idealista
analysed data about Spanish home prices and found that the most expensive
neighbourhood of Spanish property is found in none other than the Costa del
Sol.
The name of the area is La Zagaleta, an urbanisation nestled
in the verdant hills off Benahavis. Property there costs an average of €5.6
million and it’s hardly surprising. The gated communities around here are where
you can find the richest, most famous people in the world.
There are several reason that La Zagaleta draws in these
elites, and the exclusivity of the area is reflected in the property prices.
There is a superb climate here, along with some fantastic views of the
Mediterranean, incredible accessibility to all the best clubs and restaurants
of Puerto Banus, and – of course – seclusion. There are no prying eyes or
flashing cameras, and some of the villas come equipped with a helipad allowing
the people living there to be as secretive as possible when it comes to
arriving and leaving.
Outside of the Costa del Sol, the La Moraleja neighbourhood
of Madrid is the second-most expensive postcode in Spain with average property
prices of €5.05 million. After this comes the Castillo de Aysa of Madrid with
€5 million, and the Avenida del Tibidalo in Barcelona coming fourth with
average property prices of €4.83 million.
Thursday, 21 September 2017
Experts Predict 10 Property Sales Increase of 10% for Spain
The prices continue to increase in Spain
Experts Predict 10 Property Sales
Increase of 10% for Spain
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| The prices continue to increase in Spain |
Summer is reaching its peak and bringing optimism with it,
especially to the Spanish property market, which has already performed excellently
this year.
There is so much positivity and confidence flowing through
the Spanish real estate industry that the Spanish bank BBVA has predicted 2017
will see an increase in property sales of 10% compared to last year.
Most notable is that BBVA believes over 500,000 Spanish
homes are going to sell during 2017, surpassing the annual threshold that
hasn’t been surpassed since before the economic troubles began in 2007.
A performance like this would break the positive forecast
put out by the bank at the start of the year – in an upturn created by how well
the Spanish economy is recovering on practically all fronts.
BBVA are also expecting a 3% increase in the average
national price. The bank stated in their last report that the typical price-per-square
metre in 2017 will increase to €1,570, which will bring prices to the same
level of 2004. Unlike 2004 however, there is a much bigger regional variation;
as prices in places such as the Costa del Sol, Madrid, and Barcelona are
expected to be much higher than average.
Official notary data released in May shows that the average price of properties was €1,318 per square metre, which would mean that
additional monthly price increases are likely to happen before the country
reaches the estimate from the BBVA.
Thursday, 24 August 2017
Spaniards Return Home for Property and Jobs
Spaniards Return Home for Property and
Jobs
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The Spanish revival continues with spain being
the best place to live in Europe
|
The reason for the boost is three-fold; an increase in new
births, a rise in expats and immigration and – perhaps most significantly –
Spaniards returning home after leaving during the tough years of the recession,
coming back to enjoy the strengthening Spanish economy.
The increase in new births is a clear signal that the youth
of Spain are becoming more confident in their own financial situations, while
it’s expected that immigration will rise as the economy grows.
But the biggest impact is coming from the amount of
Spaniards returning home. IT’s estimated that over 50,000 Spaniards came back to the country between the first of January in 2016 and 2017. With them comes
plenty of positives for the property and job markets of the country.
In the 12 months between the start of 2016 and 2017 for
example, the population of the country grew by 89,000. However, there were
375,000 new jobs created in this time period, meaning that with 18.8 million
people working in Spain the figuree is the highest it’s been in seven years.
Another important fact is that the employment boom is being
seen in more stable industries than before – in the times when the credit
bubble burst and destroyed the economy. The increase in jobs across 2017 is
being seen in several industries including agriculture, construction, and
hospitality. There has also been an increase in the demand for skilled workers.
Changes in Spanish population have typically correlated with
changes to GDP since 2008, when both figures plummeted before rising a little
in 2010 and sinking again in 2013. The GDP has risen steadily since then, even
if the population figures took a little longer to catch up.
The trend is clear for now however; thousands of the young
Spaniards who left Spain to make their lives in the UK, Germany, and across
Scandinavia are returning home – better for their time away, with more
financial stability and an eagerness to contribute to the continued recovery of
the Spanish economy.
Javier Díaz Giménez, professor of economics at IESE Business
School in Madrid believes that the economy is growing strongly and is much more
balanced than it was back in 2007. The labour market by be evolving all the
time, but there is no doubt that plenty of jobs are being created across the
board.
The return of confident and willing workers is being felt in
more than just the job market. The Spanish property market has also been
expanding in an encouraging manner for the past three years now, complete with
a noticeable increase in domestic buyers across the past 18 months.
Tuesday, 22 August 2017
Average Spanish Property Values 2.3% Higher in June Compared to Last Year
Average Spanish Property Values 2.3% Higher in June
Compared to Last Year
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| Costa del sol continues to be a great investment |
Data on the price of Spanish property from valuation firm
Tinsa shows that the average selling price of property in Spain was 2.3% higher
this June compared to June of last year, bringing the streak of monthly
increases in house prices to 10 straight months.
While the data from Tinsa doesn’t go into the actual average
property price for each region, it does show the largest increases in prices
are found in the coastal regions and major cities. The average property price
for regional capitals was 4.2% for example, which is above the national
average. While property prices increased an average of 2.4% across the
Mediterranean coastline.
When analysing the average house price across the first half
of 2017, Spanish property prices were up 2.8% compared to the first half of 2016,
with island property prices seeing the sharpest increase at 7.2%.
The price increases will no doubt be welcomed because they
are gradual and steady. There hasn’t been a price shock, spike, or crash across
the past 18 months plus. It’s just been a consistent increase in demand, which
means a consistent increase in price.
These factors are giving economists and property experts
alike plenty of encouragement. They can see for themselves an industry with
plenty of foreign investment and a growth in domestic interest, as well as
increasing confidence from businesses and lenders.
This is the reason for the 2.4% increase in building licenses across the past year. It’s also why actual sales increased 23%
year-on-year as of May, and mortgage approvals increased 10.4% in April – a
figure that correlates with the decrease in unemployment as Spanish
unemployment has fallen 10.7% across the past year.
Tuesday, 15 August 2017
Spanish Property Sees Foreign Investment Double in One Year
Spanish Property Sees Foreign Investment Double in One Year
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| Spain continues to be a fantastic place to buy property |
The analysts found British, French, German, Swedish, and
Russian buyers are still the largest sources of foreign investment in Spanish
property, accounting for a total of 13.2% of properties purchased in Spain last
year. This represented the largest amount of foreign buyers entering the
Spanish market in over a decade, with all signs indicating 2017 will see
another record set for foreign ownership.
Based on the figures from last year, Brits were responsiblefor 19% of the property bought by foreigners, once again taking the lead as the
most prominent foreign nationality.
Eight percent of foreign buyers came from France, while 7.6%
were German and 6.7% were Swedish.
A total of 53,000 properties in Spain were sold to
foreigners in 2016, meaning that if current trends of foreign interest
continues for the rest of 2017, there could be close to 100,000 Spanish
properties sold to foreign buyers by the end of the year.
The Spanish property market is being boosted by more than
just foreign interest. Domestic demand has increased thanks to the economic
recovery and the growth of the job market, which has compelled young Spaniards
to take their first steps on the property ladder; enticed by affordable
property prices and favourable mortgages across the country.
Monday, 10 July 2017
Survey Finds Brits Looking for Property Abroad Still Prefer Spain
Survey Finds Brits Looking for Property Abroad Still Prefer Spain.
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Costa del sol continues to be in such demand with its fantastic weather
and amazing Mediterranean lifestyle.
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While it is true the sterling has fallen a little, there’s
not been a shred of evidence to suggest that British interest in foreign
property has abated. Sales continue to grow in fact, even if they are growing a
little slower than before. A survey published recently by the Spanish Legal
Reclaims legal firm shows that British desire for Spanish property remains
high.
The survey showed that 55% of the people surveyed said that
Brexit had not affected their decision to purchase property overseas. In fact,
10% said that their interest in European property had only increased following
the vote.
45% of those surveyed said that they were most interested in Spanish property, with France coming in second at 37% and Italy coming third on
20%.
It’s hardly surprising that Spain remains the destination of
choice for British people looking for European property. Spain has always
delivered on a great lifestyle, great property prices and, of course, the
stunning climate.
There’s more propping up the Spanish property market than
just British buyers, however. Scandinavian, French, and German interest remains
high, while interest from domestic buyers has been on the up for the past two
years.
This has been shown by the sales data from April. Spanish
notaries have shown that sales decreased in April 2017 by 2% compared to 2016
thanks to the Easter effect. The Semana Santa fell in April this year, meaning
that banks, notaries, and mortgage lenders were closed for longer this year
than last year, which means it was harder for Spaniards to make their deposits
or take out their mortgages, which hobbled sales growth.
The excellent sales from March – an increase of 20-30% of
last year – could also be a testament to the Easter effect. The trend going
past these anomalies is one of positivity, showing the market is moving in the right direction.
Friday, 7 July 2017
Spain Once Again Top Spot for Property in the World
Spain Once Again Top Spot for Property in the World
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| Property in the costa del sol continues t be a great buy |
An example of this is that Brits choose Spain ahead of other
countries when they buy property abroad, but American buyers will choose to buy
a summer getaway in Mexico. This represents just two groups of buyers and
doesn’t even take into account the share size of the world.
Even so, recent rankings from TheMoveChannel.com aim to give
some form of structure and accuracy to these rankings. The portal has become to
the largest site in the world for viewing property, and the Top of the Props
index released by the website has become a trusted source among economists and
analysts alike.
This is why headlines were made back in February when it was
revealed Spain had lost its top spot to the USA. USA property became the hot
trend at earlier in the year, accounting for 14.02% of global enquiries.
The April index shows that Spain has reclaimed the top spot
once again, as Spanish property now accounts for one in ten search enquiries
across the months of March and April. Also impressive is that locations in Spain
accounted for 30 of the top 50 searched locations on the site.
This is hardly surprising, given that the Spanish property
market picks up steam during the Spring. Foreign buyers have also had a long
love affair with Spanish property; a love affair that the data from the Spanish
Registrars latest annual report would suggest is continuing.
The report, which was also published just last week, shows
13.25% of the Spanish properties sold during the first quarter of 2017 went to
foreign buyers.
There are very few people in the market that are surprised
by the news that Spain remains an attraction to overseas buyers looking for
property. Those who have always been confident in the appeal Spanish property has to British buyers are taking the fact that Brexit has done little to damage
British demand as a chance to rub it in people’s faces and say they told us so.
Friday, 30 June 2017
Spanish Property Prices to Rise 6% This Year
Property Prices to Rise 6% This Year
 |
| Property prices continue to rise |
The CBRE data builds on the positive news from May
suggesting average property prices increased 5.3% more than in 2016. This
positive trend is expected to continue across the year for the rest of the
country at the most, and certainly in the places where there’s the highest
demands for property.
This includes the coastal regions of the Costa del Sol,
Costa Brava, the Costa Blanca, the Balearic and Canary Islands, and the major
cities of Barcelona, Madrid, Malaga, and Valencia.
These regions are expected to see sustained demand for
property and steady price increases, and are expected to see an increase in
building activity. CBRE forecasts demand for new builds will reach between
120,000 and 140,000 properties a year by next year, meaning that regions such
as the Costa del Sol – where demand is beginning to outstrip supply – could get
the developments and urbanisations they need.
There is also some positive rumblings coming from the rental
market – which is typically an accurate example of how healthy the Spanish
property market is.
CBRE expects the demand for rentals will increase an average
of 1.5% nationally, while the annual return on investment in stronger property
markets is likely to stay around 5% - likely causing an increase in buy-to-lethome purchases.
Tuesday, 27 June 2017
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.
Thursday, 8 June 2017
Spain Records 30% Property Sales Increase in March
Spain Records 30% Property Sales
Increase in March
In the past 12 months over 400,000 Spanish homes have tradedhands; 15% more than in the prior 12 months.
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The recovery continues which is wonderful for the whole of
spain
|
According to the data from the INE, the 40,461 homes
changing hands during March in Spain was the highest monthly figured reported
since 2011. It would have been the highest since the credit crunch bit in 2008,
except the government boosted 2011 sales with a tax break.
2017 has been a record-breaking post-recession year for
property transactions so far, with January and February posting sales data that
resembles something from before the housing bubble burst.
Putting it all together, some 114,528 Spanish properties
were bought and sold in the first three months of 2017; around 15% more than
during the first three months of 2016. Extrapolating it across 12 months shows
that property sales will reach 419,000 – an increase of 15% over the previous
12 month period.
16 of the 17 autonomous communities of Spain reported increasesin property sales. The only area where sales contracted was the Canary Islands,
where sales were down 3.5% compared to last March.
The largest increases were reported in La Rioja, Cantabria,
and Asturias; all of which reported growth of over 40%.
Analysing the data from the INE further shows that 110
property transactions occurred for every 100,000 people considered to be of
home-buying age. This came up to 150 and 148/100,000 people in Valencia and the
Balearics respectively.
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