Annual Decline in Housing Prices in Spain Moderates

Posted by on Aug 17, 2014 in News

Declines in housing prices are continuing, but are less intense as time passes. This is according to the pisos.com monthly report on selling prices, which notes that resale property in Spain registered an average price of 1,603 euros per square metre in July 2014. This represents a fall of 8.62% compared with July 2013, while compared to June this year, the decline stands at 1.16%. Miguel Ángel Alemany of pisos.com stressed that although prices have not escaped the downward trend that began with the housing crisis, the declines being registered are reducing, and “the pronounced overvaluation affecting housing in Spain is definitely past”. According to Alemany, the statistics point to a stabilisation in prices with “mild rallies already occurring in certain consolidated areas, which could increase in 2015 if the economic environment improves, which could happen if the good results of the last Labour Force Survey are maintained”. “The constant declines have finally encouraged sales and, as mortgage lending moves towards normalisation, buyers’ decision making will accelerate,” said the head of the real estate portal, based on three consecutive months of positive results, according to data released by the National Statistics Institute Read...

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Spain Received Record 28 Million International Tourists to June

Posted by on Aug 6, 2014 in News

According to the latest Frontur Inbound Tourism Survey results, released by the Ministry of Industry, Energy and Tourism, Spain posted a new record for the first half of this year with a total of 28 million inbound tourists, representing an increase of 7.3% over the same period of 2013. Between January and June, the United Kingdom was once again the top source market, with 6,535,251 tourists (up 5.8%), followed by Germany with 4,658,700 tourists (up 8.8%) and France with 4,239,804 tourists (up 10.3%). During this period, the region of Catalonia was the top destination, receiving 7.1 million international tourists. A total of 6.6 million foreign tourists visited Spain in June, which is an increase of 4.5% year-on-year and also a new June record since the Frontur surveys began.    The United Kingdom was the top emitting market in the month with 1,743,513 tourists (up 3% on 2013), followed by Germany with 1,133,931 tourists, and France with 814,113 tourists (up 7%). Tourists from the United Kingdom accounted for 26.5% of the total international tourists visiting Spain in June, maintaining the UK’s leading position. German tourists accounting for 17.2% of the total inbound tourists in the month, and registered the highest increase (10.8%) among the top emitting markets. Tourists from France accounted for 12.4% of the total, and registered an increase of 7% in June, year-on-year. Read...

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Commercial Real Estate Investment in Spain Reaches Post-Crisis Highs

Posted by on Aug 6, 2014 in News

The interest of international and institutional investors in the Spanish commercial real estate market has hit a new post-crisis record. With nearly 2,500 million euros in the first half of 2014, investment grew by 110%, according to data from consultancy firm BNP Paribas Real Estate. The interest of these foreign operators, together with the activity of the newly created Socimi, and Spanish REITs, has resulted in a surge in non-residential investment in Spain during the first half of the year, in annual terms. Retail assets accounted for the largest market share, with 38% of the total invested, followed by hotels (29%) and offices (27%). Although national investment has grown by 150%, with acquisitions totalling 810 million euros in the first six months of the year, 65% of the total has come from foreign investment. Of particular significance has been the investors in the Spanish market from non-traditional areas, such as China, Latin America or the Persian Gulf. During this six month period, institutional investors have also confirmed their interest in the Spanish market, leaving the private investors, both national and international, with only 18% of the market share, 12 points less than in 2013. Read...

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Spanish Construction Sector Fastest Growing in Europe

Posted by on Aug 6, 2014 in News

According to data from the EU statistics office, Eurostat, the Spanish construction sector is once again looking buoyant, as the production in this sector registered an increase of 42.4% year-on-year in May, the highest percentage in Europe. This percentage is well above the increases registered for the eurozone (3.5%) and for the whole of the European Union (3.2%). Following Spain, the countries with the biggest increases were Slovenia (+41.8%), Hungary (+28.7%) and Poland (+6.8%) while, in contrast, the biggest losses compared with the month of May 2013 were recorded in Romania (-10.3%), Portugal (-10.2%), the Netherlands (4%) and Germany (-2.5%). Spain thus maintains the trend which began in March, when the country recorded the third largest year-on-year increase in the EU (19.1%), which was followed in April with a rise of 53.4%, well above the average growth rate for construction in Europe. Month-on-month (data for May compared to April), Spanish construction also showed a positive result, with an increase in activity of 1% – minimal, but which contrasts with the -1.5% registered in the eurozone and the -1.6% for the EU. By country, Spain was the fourth with the highest growth in activity quarter-on-quarter. Read...

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