Home Sales On the Increase

Posted by on Apr 30, 2014 in News

The housing market appears to be entering a new phase after several years of depression. According to the latest statistics from the General Council of Notaries, based on actual transactions, the number of home sales in February rose by 39.8%, to 26,602 transactions, compared to the same month of 2013. Prices also increased, by 0.6%. “The rebound in home sales in recent months (in January they surged by 59.2%) can be explained, in part, by the normalisation of the figures after the end of the income tax deductions for home purchases at the end of 2012, but also reflects a stabilisation in the monthly sales”, said the Notaries’ press release. The increase in transactions is reflected in all segments of the residential property market. Sales of private apartments soared by 38.5% (41.4% in used homes and 24.1% in new homes) and transactions on individual family homes registered growth of up to 50.5%. With regard to apartment prices, El Mundo reported that the Notaries recorded a slight increase in the cost of housing transmitted during the second month of 2014, of 0.6%, although much less than the increase recorded in January, when it was 8.9%, which they say “appears to show some signs of stabilisation in the market”. Thus, they put the average price of the homes sold at 1,189 euros per square metre. Read...

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Spain House Prices Fell by -1.1% in First Quarter

Posted by on Apr 30, 2014 in News

The evolution of the average price of resale property in Spain has significantly changed from 2013, according to a recent report from fotocasa.es. Last year they registered double-digit year-on-year declines, and specifically in June 2013 recorded the largest year-on-year drop in their comparable real estate index (-11.8%). However, the first quarter of 2014 seems to show a slowdown in the decline in the price of second-hand housing, recording the softest quarterly decline since the first quarter of 2010, when it was -0.1%. Although year-on-year and quarter-on-quarter the rates are still negative, none are in double-digits. Compared with March 2012, the prices have fallen by -6.5%. In quarterly terms and in comparison with December 2013, the calculated variation better reflects a possible slowdown in the decline, with a quarter-on-quarter drop of -1.1%. With regard to the price, in March 2014 it stood at 1,712 euros per square metre, and accumulated 49 consecutive quarters with negative rates, with the exception of the third quarter of 2013, when the price remained stable. Read More...

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Homes Sales Down 27.6% in February

Posted by on Apr 30, 2014 in News

According to the latest data published by the National Statistics Institute, the sale of homes in Spain fell by a further 27.6% in February compared with the same month in 2013, to a total of 25,717 closed transactions. This decline was more than four points higher than January, when housing sales fell by 23.2%, and accumulates 10 consecutive months of declines. Month-on-month (February over January), home sales fell by 16.1%, its biggest decline in this month since 2010. El Mundo reported that the drop in home sales in February was due mainly to the decline in new home transactions, of 37.4%, to a total of 11,544 operations. Meanwhile, sales of previously owned homes fell by 17% to a total of 14,173 transactions. Read...

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Growing Interest in Spanish Property at A Place In The Sun Exhibition

Posted by on Apr 11, 2014 in News

Over the weekend of Friday 28th to Sunday 30th March more than 6,000 visitors attended the international ‘A Place In The Sun’ real estate fair in London, where there were a total of 156 exhibitors from around the world.     One-third of the international exhibition (56 exhibitors) was dedicated to Spain. Other major exhibitors represented Italy, France, the USA (especially Florida), Portugal and Brazil. According to data compiled by real estate advertising and marketing company, Inmoaction, who dealt with 112 property enquiries at the exhibition over these three days, 45 percent of the British investors interested in the Spanish market are ready to buy a property in the next six months. 60 percent of the enquiries from potential investors were focused on Catalonia, Valencia and Andalucía, although, Daniel Talavera, director of Inmoaction, explained: “We can confirm that, while these are the three preferred regions, the enquiries are varied, and agents from any region of Spain can generate a significant niche market in the UK. For example, surprisingly we have received eleven enquiries for the north of Spain alone, including Burgos”. Talavera also said that the dwellings of greatest interest are those with three bedrooms. The London show is 98% for so-called “home buyers”, people who want to buy a house for either holidays or to go and live in Spain. Of the other investors looking to gain economic benefit from purchasing housing in Spain, Inmoaction was approached at the fair by an international British company, a private individual, a group that works with buyers from the Middle East, and another preparing a tour of Spain at the end of Spring. Read...

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March Unemployment Figures Best Since 2006

Posted by on Apr 11, 2014 in News

Recorded unemployment in Spain fell by 16,620 in March over the previous month, putting the total number of unemployed persons registered with the Public Employment Services at 4,795,866.    This is the best recorded unemployment result for March since 2006. Over the last five years, recorded unemployment in March has increased by an average of 41,463. Recorded unemployment has fallen by 239,377 over the last 12 months. The year-on-year rate, which recorded a negative result in October for the first time since May 2007, continues to fall and now stands at -4.75%, representing a reduction of over 17 points since standing at +12.5% in May 2012. In seasonally-adjusted terms, unemployment fell by 17,000. This is the largest decrease in seasonally-adjusted unemployment in March for the last 10 years. Seasonally-adjusted unemployment has now fallen for eight consecutive months for the first time since 1999.     Among the under-25s, recorded unemployment has fallen by 48,027 over the last 12 months, which is a year-on-year decrease of 10%. Read...

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