Price of Sold Homes Up 0.7% Due to Market Volatility

Posted by on Oct 29, 2013 in News

  According to the General Council of Notaries statistics for August, with regard to housing prices, they noted a “high volatility” in the market due to the reduced number of transactions and considered that, perhaps for this reason, the price per square metre of homes sold in the eighth month of the year recorded growth of 0.7%, reaching 1,219 euros. This increase was due to the rising price of family homes sold (32.4%) in a month with very few transactions (3,518 units). However, the price of apartments registered a decline of 10.8% year-on-year, to 1,185 euros per square metre, in line with the trend observed in recent months. New apartments registered a price of 1,424 euros per square metre (-5%) and second-hand, 1,153 euros per square metre (-9.1%). El Mundo reported that the number of house sales registered a decline of 28.1% year-on-year in August and totalled 15,027 transactions. The decline has been driven by the 31.4% drop in the number of purchases of apartments and a drop of 14.8% in transactions for family homes. The number of purchases of new apartments fell by 56% in August, year-on-year, while transactions for second hand fell by 19.5%. Read...

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Spain’s Construction Activity Rises 7% Year-on-Year

Posted by on Oct 25, 2013 in News

According to the European Commission statistical office, Eurostat, the production of the construction sector in Spain increased by 7% in August compared with the same period of 2012 – the third largest increase in the whole of the European Union – and a positive percentage which contrasts, on the other hand, with the reduction of 4.7% registered in the eurozone. In monthly terms, El Mundo reported that the construction output in the eurozone in August registered an increase of 0.5% over the previous month, when it rose by seven tenths. For Spain, the growth in construction activity rose by 1.1%. In the whole of the European Union, construction activity rose by four tenths in August compared to July, when it increased by 1.3%, while year-on-year it registered a decline of 2.5%. Among the countries for which data is available for August 2013, construction output rose in seven and fell in eight. Read...

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House Prices Will Close 2013 at Half of Pre-Crisis Levels

Posted by on Oct 24, 2013 in News

The Spanish real estate appraisal company, Sociedad de Tasación, has estimated that the market value of housing in Spain will fall to 1,160 euros per square metre by the end of 2013, which will represent a cumulative decline of 51.7% since its historical maximum registered in 2007, of 2,401 euros per square metre, just before the economic crisis began. According to the agency’s report, ‘Trends in the Real Estate Sector’, presented by the CEO of the company, Juan Fernández-Aceytuno, the price of housing has fallen by 15.7% in value year-on-year, to stand at 1,256 euros per square metre on average in September 2013. Read...

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Decline in Spain’s House Prices Biggest in the Eurozone

Posted by on Oct 22, 2013 in News

Price of housing in Spain experienced a drop of 10.6% in the second quarter, year-on-year, the highest amongst the countries of the eurozone, according to data released last week by Eurostat. However, this decline represents a slowdown compared with the year-on-year fall of 12.8% recorded in the first three months of 2013. Data from the EU statistics office shows a fall of 0.8% in the house prices in Spain, compared to the first quarter of the year, when they fell by 5.1%, behind only the 2% quarterly decline recorded in the Netherlands. In fact, the quarterly decline in housing prices seen in the second quarter, the 12th consecutive negative quarter, is the lowest since the fourth quarter of 2010, when prices fell by 0.1%. Read...

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House Prices Dropped by 9.2% in September

Posted by on Oct 21, 2013 in News

According to the IMIE Index for September 2013 published this week by the real estate appraiser, Tinsa, the price of housing in Spain is continuing its steep decline, dropping by 9.2% in September year-on-year, one tenth less than the decline registered in August, of 9.3%. Tinsa explained in a statement that the Index “has continued in September a similar trend to the previous month” and noted that the cumulative decline since home values reached their highest point in December 2007, has now increased to 39.1%. Read...

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