Notaries’ Statistics Support Spanish Housing Market Recovery

Posted by on Nov 22, 2015 in News

According to the latest real estate statistics published by the General Council of Notaries, Spain’s housing market registered year-on-year increases, not only in the number of home sales, but also in their prices, and in the number of new mortgages granted. Specifically, in September, housing transactions increased by 8.7%, while house prices rose by 1.7%, and the number of new mortgage loans granted grew by 17.4%. Home sales in Spain stood at 30,328 transactions in September, representing a year-on-year increase of 8.7%. By type of dwelling, the sale of free price housing showed an increase of 8.4% year-on-year. However, the Notaries pointed out that this increase is due solely to the number of transactions carried out on second hand homes, which increased by 13% year-on-year, as sales of new homes registered a decline of 19.7% compared to last year. Sales of individual family homes also registered significant growth, climbing by 14.7% year-on-year. Read...

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Spanish House Prices Rose by 6.6% Y-o-Y in Q3

Posted by on Nov 22, 2015 in News

Spain’s Property Registrars announced last week that “the price of housing during the third quarter of 2015 continues to consolidate the change of trend initiated in 2014”, and said that, according to their price index of repeated house sales, prices increased by 6.6% year-on-year between July and September, which is the highest rate so far, of all their periodically published statistics. Quarter-on-quarter, the Registrars reported an increase of 2.2%, with the pace of growth of prices in the last few quarters continuing to moderate the accumulated decline since the peak levels of 2007, to now stand at 28.4%. El Mundo reported that the number of home sales increased in the third quarter, to a total of 92,786 transactions, representing an increase of 6.4% over the second quarter, and is the highest result of the last 10 quarters. Year-on-year, the increase was 16.6%, compared to the same period in 2014. The year-on-year accumulated data up to the third quarter confirm this positive trend, showing that in the last 12 months some 348,388 transactions have been registered, which is 13,225 transactions more than the accumulated figure up to the second quarter of this year. Read more...

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Building Permits for Housing Registers Best Figures Since 2012

Posted by on Nov 10, 2015 in News

The number of building licences authorised for the construction ofhousing in Spain climbed by 28% in the first eight months of the year, reaching a total of 31,612, which is the best data recorded for this period since 2012, according to the latest data from the Spanish Ministry of Development. Despite the increase registered to August, building permits for housing are still far from the maximum levels recorded in 2006, during the real estate boom, when 551,350 licences were issued in the first eight months of the year, which represents an increase of 94% over those registered in the same period of this year. The total number of building licences granted for new builds, renovations and extensions up to August was 49,613, representing an increase of 21.6% compared to 2014.     With regard to property type, the number of permits granted to build apartment blocks rose by 31%, to a total of 22,058 licences, while permits for individual family homes grew by 20.6%, to a total of 9,538.    The average size of the individual family homes stood at around 203 square metres, while the average apartment size was 112 square metres. Looking at the monthly figures: in January the number of building licences increased by 37% year-on-year to a total of 3,466; in February they increased by 57%; in March they registered a decline of 13.5%; in April they grew once again, by 50%; followed by increases in May, June and July of 22%, 48%, and 12%, respectively. Read More...

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Servihabitat Forecasts 2.6% Rise in House Prices in 2015

Posted by on Nov 10, 2015 in News

According to their recent report on the housing market in Spain, the real estate management company, Servihabitat, estimates that home sales will increase by 25.6% in 2015, to over 400,000 transactions, and that the upward trend will continue in 2016, with over 460,000 homes sold, representing a further increase of 14.5%. As a result of this, the organisation predicts that the price of housing will rise by 2.6% this year and by 6% in 2016. In the conclusions section of the report the company highlights that the housing sector in Spain “is registering a process of gradual normalisation, with an increase in the volume of sales and a progressive appreciation of house prices”, which they indicate are “clear signs of recovery in the sector”. The Canary Islands, Madrid, the Basque Country and La Rioja will be the regions, according to the report, which will experience the greatest increases in housing transactions, with growth exceeding 20%, both in 2015 and 2016.    Moreover, the housing most in demand as a primary residence will have three bedrooms and an average surface area of 90 to 100 square metres, while the most sought-after holiday homes will have one or two bedrooms and an average surface area of 50 to 65 square metres. The study also concludes that the holiday home market is likely to be especially active in the Alicante coast, the Costa del Sol, the Balearic and Canary Islands, as well as in some areas of the Costa Brava, while the recovery in prices will be more significant, in percentage terms, in regions such as Cantabria, Castilla-La Mancha and Castilla y León, and in 2016 they predict important increases in Galicia, Madrid,Murcia, Aragón and Extremadura. Read...

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