Housing Registers Price Rise of 1.2% in Q2

Posted by on Sep 27, 2015 in News

According to the latest statistics released by the Ministry of Public Works on housing values, the average price of housing in Spainrose by 1.2% in the second quarter of this year, compared to the same period of 2014, to stand at 1,476.8 euros per square metre. This is the first year-on-year increase registered in housing prices since the third quarter of 2008, at the beginning of the crisis, and follows 26 consecutive quarters of declines, during which time prices have accumulated a reduction of 29.7%. In real terms, discounting inflation, house prices rose by 1.5%, their third consecutive quarterly increase.   In the second quarter, prices increased for both new and second hand homes (those over five years old). The value of new homes rose by 1% (to 1,732.9 euros/m2) while second hand housing prices increased by 1.3% (to 1,467.5 euros/m2). According to the Ministry’s data, a total of 11 regions recorded year-on-year increases in housing values, the greatest being those registered in the Canary Islands (+4.1%), followed by Madrid and Aragón (both +3.5%), while the regions which registered the greatest declines in the second quarter were Asturias (-2.7%), Castilla-La Mancha (-1.5%), Murcia (-1.3%) and La Rioja...

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Urban Land Prices on the Rise

Posted by on Sep 27, 2015 in News

According to the Spanish Ministry of Public Works’ land price statistics for the second quarter of 2015,  the average price per square metre of urban land inSpain climbed by 4.7% year-on-year in the second quarter of the year, compared to the same period in 2014, placing it at 153.3 euros, while quarter-on-quarter, the average price per square metre showed an increase of 2.3%.   In the municipalities of more than 50,000 inhabitants the average price per square metre increased by 6.3% year-on-year, to stand at 291.7 euros. Among the municipalities with over 50,000 inhabitants, the highest average prices were noted in the provinces of Madrid (547.3 euros per square metre), Barcelona (544.7 euros) and Granada (389.5 euros). In contrast, the lowest average prices were registered in Badajoz (98.2 euros per square metre), Guadalajara (131.3 euros) andMurcia (147.1 euros). A total of 3,819 urban land transactions were carried out in the second quarter of 2015, representing an increase of 10.2% over the first quarter of 2015, when the number of transactions amounted to a total of 3,465, and 0.7% more than those carried out in the second quarter of 2014, when the total was 3,793. Read...

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Second Hand House Prices Rose by 0.2% in August

Posted by on Sep 27, 2015 in News

The average price of a second hand home in Spain stood at 1,646 euros per square metre in August, representing a month-on-month increase of 0.2%, according to the latest data from property portal, fotocasa.es. As for the quarterly variation in August, the price of housing increased by 0.7%, while year-on-year prices have dropped by -0.6%. Since the maximum value of 2,952 euros/m2 recorded in April 2007, the average price of second hand housing in Spain has accumulated a decline of -44.2%. Ten of Spain’s regions have registered declines in excess of 40% since the record prices of eight years ago. The region where prices have fallen most is La Rioja, which has accumulated a decline of -53.6%, followed by: Navarra (-51.2%); Aragón (-51.1%); Castilla-La Mancha (-50.8%); Murcia (-47.9%); Valencia (-46.6%); Catalonia (-46%); Asturias (-44.7%) and Madrid (-43.8%). In the month of August, nine regions registered month-on-month increases in second hand housing prices. The most significant of these increases were recorded in the Canary Islands (+1.9%), followed by Andalucía (+0.7%), Navarra (+0.6%) and La Rioja (+0.5%). In contrast, the greatest declines in prices registered in the month were for Castilla-La Mancha (-1.3%), Aragón (-0.9%), Madrid (-0.6%) and Asturias (-0.4%). Read...

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Spanish House Prices Register Biggest Increase Since 2007

Posted by on Sep 27, 2015 in News

Housing prices in Spain climbed by 4% year-on-year in the second quarter of the year, according to the latest House Price Index data published by the National Statistics Institute, which is the largest increase registered since the fourth quarter of 2007, and the fifth consecutive quarterly increase, following six years of declines (2008-2014). Compared to the first quarter of the year, the price of housing rose by 4.2%. By housing type, new housing prices increased by 4.9% in year-on-year terms, representing its biggest increase since the second quarter of 2008, while the price of second hand homes rose by 3.8% in this period, registering its largest increase since the third quarter of 2007.   Compared with the first quarter of the year, the price of new housing increased by 1.5%, while second hand housing prices rose by 4.6%. In the second quarter of 2015, all of Spain’s regions registered increases in their housing prices, year-on-year, except for Castilla La Mancha, which maintained a rate of 1.8%. The greatest year-on-year increases were recorded in Cantabria (5.1%) and the Balearic Islands (7.3%), with increases of 5.4 and 4.5 points, respectively, while the regions where prices increased least were Extremadura (up one tenth to 0.9%) and Galicia (up three tenths to 0.8%). Read...

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House Prices Have Fallen by an Average of 41.8% Since 2007

Posted by on Sep 22, 2015 in News

Property appraisal company Tinsa’s IMIE General and Large Markets Index for August 2015, which analyses the evolution of the average price of finished new and used housing in Spain, stood at 0.9% below the level of 2014.    Of the groups analysed in the Index, the Balearic and Canary Islands and the Capitals and Large Cities registered the best year-on-year progress in August, with average house prices increasing by 3.8% and 0.5%, respectively. In contrast, in August, the other groups registered values lower than those of a year ago. The Mediterranean Coast recorded a decline of 1.3%, and the Other Municipalities noted a drop in values of 2.1%. However, the most significant annual adjustment was observed in the Metropolitan Areas, which registered a decrease in the average values of 4%, compared to August of last year. From January to August this year, El Mundo reported that the Mediterranean Coast and the Capitals and Large Cities both recorded cumulative positive progress of a few decimal points (+0.9% and +0.5%, respectively), while the Balearic and Canary Islands noted a reduction in prices between January and August, of 1.4%, although this represents a significant improvement over the figures for the same period of last year, when their prices accumulated a decrease of 6.9%. Read...

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