Home Sales in Spain Rose by 19.4% in June Y-o-Y

Posted by on Aug 27, 2015 in News

According to the latest data published by the General Council of Notaries, the sale of homes in Spain soared by 19.4% in June, compared to the same month the previous year, reaching a total of 37,641 transactions, while at the same time the average price fell by 0.3%, to stand at 1,260 euros per square metre. The June data marks the fourth consecutive month of increases in home sales transactions, following those of March (+12.3%), April (+1.9%) and May (+8.5%). In seasonally adjusted terms, the rise in home sales in June stands at 14.4%.   In gross terms, sales of apartments increased by 20.8%, driven by transactions on second hand apartments, which rose by 25.2%, while the transactions on new apartments increased by 2.2%. In addition, sales of individual family homes increased by 14.5% in June, compared with the same month of 2014. El Economista reported that the average price per square metre stood at 1,260 euros, representing a decline of 0.3%, due to the reduction in the price of property – which fell by 0.7% – while the individual family homes increased in price, by 2%. Since the onset of the crisis in 2007, the average accumulated decline in prices stands at 33.2%. Read...

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Luxury Holiday Home Rentals on the Increase

Posted by on Aug 27, 2015 in News

The holiday rental market for luxury homes with rental prices of between 3,000 and 8,000 euros per week, have increased this summer compared with previous years, according to a study by the real estate agency, Coldwell Banker España, continuing the trend already confirmed in 2014. Some of the main tourist destinations in Spain for this type of holiday rental are the Balearic Islands and the Costa Brava, chosen mainly by foreign holidaymakers from Germany or the United Kingdom. With respect to the Balearic Islands, idealista.com reported that the areas where these luxury rental homes are mainly concentrated are towns in Mallorca such as Pollensa, Alcudia, Soller, Puerto Andratx, Cala d’Or or Arta, or places in Ibiza such as San José, Cala Yundal, Talamaca, Cap Martinet or Roca Llisa. These locations have all noted increases in their reservations for this summer. Overall, reservations stood at 80% occupancy in July, which is 10% more than the same month of the previous year; 85% in August (also 10% above the 2014 figure); and 40% for both June and September, which coincides with the figures for last year. Read...

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Home Rental Prices Rose by 4.8% in July

Posted by on Aug 27, 2015 in News

According to recent data published by the property portal,fotocasa.es, the average price of housing for rent in Spain increased by 4.8% in July over the same month of last year, reaching 7.10 euros per square metre per month.   Since the maximum price levels recorded in May 2007, of 10.12 euros per square metre per month, the average cost of rental housing in Spain had accumulated a decline of 29.9%. All of Spain’s regions have recorded declines in rental prices in excess of 12% since then, with the greatest declines being those registered in Aragón (-41.4%); Valencia (-35.4%); Castilla-La Mancha (-35.3%); Cantabria (-35.3%); Murcia (-31%); Asturias (-27.9%) and Andalucía (-27.5%). El Economista reported that, in July, rental price increases were noted in all regions, compared with the prices for June, except for Navarra, which registered a decrease of 0.6%. Murcia is the region which recorded the greatest increase in home rental prices last month, rising by 2.6%, followed by Madrid (+1.6%), Asturias (+1.3%), the Balearic Islands (+1.3%) and Cantabria (+1.1%), while in the ranking of prices, the Basque Country is still the most expensive region, with a price of 10.10 euros per square metre, followed by Madrid (9.5 euros) and Catalonia (9.3 euros)....

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Licences for Residential Construction Up 28.2% to May

Posted by on Aug 24, 2015 in News

The number of building permits authorised for the construction of new homes in Spain rose to a total of 19,134 units in the first five months of this year, which represents an increase of 28.2% over the same period of last year, when 14,928 permits were issued, and is the best figure registered for this period since 2012, according to the Ministry of Public Works. Moreover, the total number of permits granted up until May for new builds, renovations and extensions was 30,140, which represents an increase of 20.5% over 2014. However, El Economista reported that despite the increase in the number of building licences registered up until May, the figure is far from the record high figures registered in 2006, in the middle of the real estate boom, when over 217,000 were authorised in the first three months of the year, 94% more than those registered this year. Read...

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Andalucía Registers Biggest Drop in Unemployment in July

Posted by on Aug 19, 2015 in News

Unemployment fell in July in all of Spain’s regions except for Extremadura, and Andalucía was the region to register the greatest reduction, with 19,319 fewer people unemployed than in June, according to the latest data from the Ministry of Employment and Social Security. Over the whole of Spain, the number of unemployed registered with the public employment services fell by 74,028 people in July – the sixth consecutive month of reductions – to stand at a total of 4,046,276. This is the largest reduction recorded in the month of July since 1998 and more than twice the reduction posted in July 2014 (29,841 fewer unemployed). In addition to the drop in unemployment recorded in Andalucía, other significant reductions were registered in Galicia, with 12,691 less unemployed than the previous month, and Catalonia, with 9,162 less. In contrast, at the end of July, Extremadura recorded 279 more unemployed than in June, and the autonomous city of Melilla posted an additional 79. Read...

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