House Prices Rise by 2.65% in Q1

Posted by on May 31, 2015 in News

According to the latest real estate registry statistics published by the Property Registrars, average housing values in Spain rose by 2.65% during the first quarter of the year compared to the same period of 2014, confirming the upward trend noted by other organisations. Since the maximum values reached in 2007, the price of housing has fallen by close to 31%. This latest figure consolidates the data from 2014, when the Registrars reported an increase of 2.55% compared with 2013, which was the first increase in housing prices recorded since 2008. Between January and March, El Mundo reported that the volume of home sales also increased, with 90,534 transactions being recorded in the property registers, representing an increase of 9% over the same period of 2014, and 16.2% more than in the previous quarter. Read...

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Demand for Homes Stimulates Urban Land Market

Posted by on May 31, 2015 in News

Recent real estate statistics show that the market recovery in Spainis on track. The incipient recovery, already acknowledged by some experts in the sector, is now beginning to leave its mark on the employment data (construction is one of the sectors where unemployment has fallen most), the consumption of construction materials, the granting of mortgages and, above all, the urban land market. Urban land prices have dropped by more than 45% since their maximum values, but in 2014 registered an increase of 5.2% at a national level, which reinforces the theory of stabilisation in the market. This improvement, observed mainly in the areas of increased activity such asAndalucía, Madrid, Catalonia, Galicia and the Basque Country, has also resulted in an increase in transactions. Thus, during the 2014 fiscal year, the number of sales transactions amounted to a total of 15,900 (9.2% more than in 2013), according to data provided by the Ministry of Public Works. Read...

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Kyero Spanish Property Market Confidence Index Q1 2015

Posted by on May 31, 2015 in News

The new  Q1 2015 Kyero Spanish Property Market Confidence Index reveals divisions in the market.  – 71% of agents feel more confident in the Spanish property market than 1 year ago  – 30% of English-speaking agents see stronger sterling as the most significant shift in the market  – Almeria, Fuerteventura, Gran Canariaand Murcia highlighted as inspiring confidence The new Kyero SPMCI has identified some interesting trends in the Spanish property market. The survey, covering some 160 English-speaking and 216 Spanish-speaking estate agents across Spain, reveals that on a national level 71% of agents in Spain felt more confident about Spanish property in Q1 2015 than they did compared to a year earlier. Only 4% felt less confident than a year ago. Interestingly, English-speaking agents were more bullish about the state of the market than their Spanish counterparts. Martin Dell, Director of Kyero.com, which lists more than 200,000 homes from 3,000 estate agents, comments.    The strength of sterling has played a key role in the confidence divide that we are seeing currently between English-speaking and Spanish-speaking real estate agents in Spain. Some 30% of English-speaking respondents highlighted stronger sterling as the most significant change over the past 12 months. Read...

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Spanish Household Debt Falls to Lowest Level Since August 2006

Posted by on May 17, 2015 in News

Spanish families’ debt with financial institutions fell by 4% in March, compared to the same month in 2014, bringing the household debt total to 740,470 million euros, the lowest figure registered since August 2006. According to current data from the Bank of Spain, the decline in household debt was due largely to the fall in the number of loans granted for the purchase ofhousing, which last year amounted to 602,406 million euros, which is 4.4% more than the 579,716 million euros recorded in March of this year.       Since February, Spanish household debt has reduced by 0.26%, while loans for the purchase of housing have fallen by 0.33%. In contrast, El Economista reported that credit appears to be flowing once again towards businesses, which at the end of March registered with the banks total debt of 941,664 million euros, which is slightly higher than the February figure (940,656 million euros), although year-on-year the figure fell by 5.4%. Read...

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Fifteen Regions Register House Price Rises in April

Posted by on May 15, 2015 in News

The average price of second hand housing in Spain stood at 1,636 euros/m2 in April and registered a month-on-month increase of 1.1%, following seven consecutive months of declines, according to data from property portal,fotocasa.es, in collaboration with the IE Business School. Quarter-on-quarter, the average price of housing increased by 0.4% in April, compared with January 2015. According to the property portal, month by month their price index shows the price of housing in Spain slowly stabilising, and they pointed out that the quarterly increase of 0.4% registered in April represents a significant increase over the -1.4% decline recorded in the same period of last year. Average prices for second hand housing in Spain have accumulated a decline of -45% since their maximum values registered in April 2007, of 2,952 euros/m2, and a total of 10 regions have already registered declines in excess of -40% since the record high prices reached seven years ago. The region to register the greatest price decline is La Rioja (-55.9%), followed by: Navarra (-51.3%); Aragón (-50%); Murcia (-49.4); Castilla-La Mancha (-48.4%); Valencia (-47.1%); Catalonia (-46.4%);Asturias (-44.7%); Madrid (-44.2%) and Andalucía (-43.2%). Month-on-month the price of second hand housing rose in 15 regions in April, representing an increase over the number of rises recorded in April 2014, when prices climbed in just five regions. Read...

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