House Price Rise in Q3 First Since Mid-2010

Posted by on Jan 27, 2014 in News

According to data published by the EU’s statistical office, Eurostat, the price of housing in Spain recorded an increase of 0.8% in the third quarter of 2013 over the previous three months, when it had fallen by eight tenths, which is the first upturn in this indicator since the second quarter of 2010. However, in annual terms, between July and September 2013, house prices experienced a decline of 6.4%, compared to the 10.6% drop year-on-year in the second quarter, which places Spain as the third country in the EU where prices declined most. In the eurozone, housing prices recorded a rise of 0.6% in the third quarter of last year over the previous three months, when they increased by 0.2%, while prices fell by 1.3% year-on-year, compared with a fall of 2.4% year-on-year in the second quarter of 2013. Read...

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Home Rental Prices Dropped by 0.5% in 2013

Posted by on Jan 22, 2014 in News

The average cost of renting a home in Spain registered a cumulative reduction of 0.5% during 2013, according to recent data from the National Statistics Institute, and also recorded nine consecutive months of declines. El Mundo reported that rental prices fell in 12 regions in 2013 with Navarra in the lead (-2.3%), followed by Madrid (-2%), Murcia (-1.6%) and La Rioja (-1.5%). In Extremadura the cost of leasing dropped by 1.4%, while in Aragon and Castilla La Mancha they reduced by 0.8%, and in Andalusia, Valencia and the Canary Islands they fell by 0.7%. In the case of the Balearic Islands the decline was 0.3% and in Cantabria, 0.2%. In contrast, the price of renting a home increased most in the autonomous cities of Ceuta and Melilla (with positive rates of 1% and 1.1%, respectively), followed by Galicia (+0.8%), Castilla y Leon (+0.6%), Asturias (+0.6%) and Catalonia (+0.5%). In the Basque Country, rental prices remained unchanged. Read...

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Home Sales in Spain Fell by 15.9% in November

Posted by on Jan 22, 2014 in News

Home sales fell by 15.9% in November 2013, compared to the same month the previous year, with 21,847 transactions recorded in the property registers, and accumulated seven consecutive months of declines. In December the price of housing fell by 9.2%, year-on-year. The statistics, published on Tuesday by the National Statistics Institute, places the November figure as the second lowest in the comparable time series which began in 2007. Considering only the monthly data (November 2013 over October), housing sales fell by 4.1%, the biggest drop in this month since 2009. In the cumulative figures for the first eleven months of 2013, home sales remain negative after being in positive territory until September, with a fall of 2.1% over the same period in 2012. The year-on-year decline in the sale of homes in November was due mainly to the decline in the sale of new homes, which fell by 22.1%, to an annual minimum of 9,823 transactions, while sales of previously owned homes fell by 10%, to 12,024 transactions. Read...

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New Building Permits Down 24.4% to October

Posted by on Jan 2, 2014 in News

The number of permits authorised for the construction of new buildings for residential use in Spain, stood at 29,088 units in the first ten months of the year, representing a decrease of 24.4% compared to the same period of last year, when 38,469 permits were issued. According to the Ministry of Development’s data, published last Friday, of the total number of permits granted between January and October, 19,424 were for flats in blocks (with a fall of 25.2% year-on-year), and 9,649 were for family homes (-22.6% year-on-year). In addition, 15 permits for other types of buildings not intended for family dwellings were requested. El Mundo reported that the number of new building permits in 2013 maintains the downward trend of recent years. In 2012 they registered a record low (44,162 units) and accumulated six consecutive years of declines. Since the historic maximum reached in 2006, with 865,561 licences granted, through to the end of 2012 these permits have now plummeted by more than 95%. Read...

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Used Housing Prices Fell by 7.4% in 2013

Posted by on Jan 1, 2014 in News

During 2013 the price of existing homes in Spain experienced a decline of 7.4%, putting the price per square metre at 1,734 euros. According to the latest Idealista.com price index, 96.5% of all the municipalities analysed saw their prices fall throughout the year. Prices in all regions reduced over the last 12 months, with only two provinces and one capital maintaining positive figures at the year’s end. The largest decreases occurred in La Rioja, where in the last twelve months prices have fallen by 14.4%, followed by Cantabria (-11.6%) and Castilla-La Mancha (11.4%). The smallest decline was registered for Madrid (-3.9%), the only region in Spain with a decline of below 7%. The Basque Country remains the most expensive region (at 2,883 euros per square metre), followed by Madrid (2,641 euros), Catalonia (1,918 euros) and Cantabria (1,854 euros). Read...

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