One in Five Spaniards Own a Second Home

Posted by on Oct 28, 2015 in News

A recent study carried out by the real estate franchise network, Re/Max Europe, revealed that one in six Europeans have a second residence. However, the proportion differs greatly among the countries. While over 20% of the citizens of Greece, Poland, Slovakia and Spain claim to have two homes, only 5.4% of German citizens, 5.6% of the Dutch and 7% of the British own a second home. The study also revealed that socio-cultural factors, rather than economic reasons, would appear to influence more the decision on whether to invest in a second residence, as the average wage is not directly related to the decision to buy. In fact, of the 14 countries analysed, those with the greatest salaries are those which least tend to invest in a second home. In Finland, which has the highest monthly salary of the countries analysed, at 2,735 euros gross, 12.1% of its citizens owns two homes. The average monthly wage in the Netherlands is 2,703 euros gross with 5.6% owning two homes. Sweden’s average monthly wage is 2,617 euros, and 11.8% of Swedish citizens claim to have two homes, while in Germany, the average monthly wage is 2,609 euros, yet only 5.4% of its citizens have purchased a second home. Despite earning an average monthly wage equivalent to 2,596 euros, just 7% of the United Kingdom’s citizens have two residences. Read...

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Spain Received Record 54.4 Million International Tourists to September

Posted by on Oct 28, 2015 in News

In the nine month period from January to September, Spainreceived a record total of 54.4 million international tourists, representing an increase of 3.8% over the same period of last year, and an additional 2 million visitors. According to data from the latest Frontur tourist border movements survey, published by the Ministry of Industry, Energy and Tourism on the Spanish Government’s website, La Moncloa, almost 7.2 million international tourists visited Spain in the month of September alone, which is 2.2% more than the same month of 2014, and another record in the comparable series. The source markets with the greatest numbers of tourists visiting Spain in the first nine months of the year, were the United Kingdom (12.7 million), France (9.1 million) and Germany (8.2 million), while the survey also highlighted the increases registered in visitor numbers from the United States (23.1%), Switzerland (8.6%) and France (6.9%). In September, the top tourist market for visitors to Spain was the United Kingdom, with 1,854,995 tourists, representing an increase of 4.6% year-on-year, followed by Germany, with 1,186,463 tourists (-3.4%) and France (1,018,970 tourists, +5.2%). The rise in tourist numbers from the United States was also noted, of 33%, maintaining the excellent growth rate of recent months, as well as the increase in tourists from the Netherlands, of 13.3%. Read...

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Home Sales Rose by 7.3% Y-o-Y in August

Posted by on Oct 28, 2015 in News

According to the latest data published by the General Council of Notaries, house prices in Spain registered declines in the month of August, when the average price per square metre was valued at 1,127 euros, representing a year-on-year decline of 3.4% and a cumulative decline of 40.3% since the beginning of the crisis in 2007. This reduction in the cost per square metre of housing is due to the decline in the price of apartments (-2.3% year-on-year), as well as the decline in the price of individual family homes (-2.2%). The price of second hand homes stood at 1,228 euros per square metre (-1.0% year-on-year) while the price of new homes stood at 1,599 euros (-4.2% year-on-year). El Pais reported that home sales, however, increased in August by 7.3% year-on-year, according to the Notaries’ data. Despite the fluctuations in the monthly figures, the comparable series reflects a stabilisation in sales. By type of dwelling, the sale of apartments showed an increase of 4.4% year-on-year, while free housing sales rose by 5.7%. This increase in transactions on apartments is due to  an increase in the sales of second hand apartments (up 8.7% year-on-year), since sales of new apartments declined by 14.0% year-on-year. Moreover, sales of individual family homes showed strong year-on-year growth of 17.4%. Read...

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In Which Countries Are House Prices Rising Most?

Posted by on Oct 28, 2015 in News

According to data collected by the British weekly publication, The Economist, Hong Kong is the region at the top of the ranking of house price increases, with prices rising by 20.8% over the previous year. Since the first quarter of 2012, prices in this region have risen by 61.4%. The second country in the ranking is Turkey, where house prices have climbed by 18.8% since last year and by 56% since the first quarter of 2012. The first European country to appear in the ranking, in third place, is Ireland, where the price of housing increased by 13.4% in the last year and by 23.2% since 2012.    El Economista reported that Sweden ranks in fourth place with an increase in housing prices of 10.3% in the last year and of 21.5% since 2012, followed by Australia, South Africa, India, Mexico and Russia, all with year-on-year growth above 5% and of over 13% since 2012. Spain is positioned closer to the bottom of the ranking, since house prices increased by just 1.6% in the last year, according to The Economist, and since 2012, housing prices in Spain have accumulated a decline of 14.3%.  Behind Spain is Belgium, with an increase of 0.7% year-on-year and of 2.9% since 2012, while the countries in negative territory are China, Italy, France, Singapore and Greece,with the steepest decline since 2012 being registered for Greece, with a drop of 25.6%. Read...

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Spain Registered Third Greatest Rise in House Prices in Europe

Posted by on Oct 28, 2015 in News

Spanish house prices registered an increase of 4.1% between the months of April and June 2015, compared with the previous quarter, according to recent data published by the European Commission statistical agency,Eurostat, and represents the third greatest increase among all the countries of Europe. El Mundo reported that, year-on-year, Spanish housing prices rose by 4%, contrasting with the 1.1% growth registered for the eurozone countries and the 2.3% increase recorded for the whole of the European Union. According to Eurostat’s data, the two most significant quarterly increases occurred in Cyprus (+7.4%) and Austria (+6.4%), while Denmark and Spain tied in third place in the ranking, both registering increases of 4.1%.  In contrast, the steepest declines in the second quarter were registered in Romania (-1.1%), Malta (-0.3%) and Italy (-0.1%). Read...

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