Foreigners Bought 69,196 Homes in Spain in 2015

Posted by on Mar 20, 2016 in News

According to data from the Spanish Ministry of Public Works, foreign buyers acquired a total of 69,196 homes in Spain during 2015, representing an increase of 13% over the previous year, and accounted for almost one in every five of the homes sold in the country last year (18%). Moreover, the volume of home purchases in Spain carried out by foreign citizens grew well above the average increase of 9.8%, which the housing market registered last year.   Non-resident foreigners purchased a total of 4,846 homes in Spain last year, representing an increase of 10.1% over a year earlier, while resident foreign buyers acquired 64,350 homes last year, which is an increase of 13.3% compared to the previous year. Valencia is the region where foreigners bought most homes last year, with a total of 20,219 sold to foreign buyers, of which 1,665 of these homes were acquired by non-residents. Andalucía was the second most popular region, with 14,384 homes being registered to foreign buyers in 2015 (1,854 by non-residents) followed by Catalonia, with 10,264 homes sold to foreign buyers (186 of them non-residents). Read...

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Housing Foreclosures Fell by 13% in 2015

Posted by on Mar 20, 2016 in News

The number of foreclosures initiated on primaryresidences in Spain amounted to a total of 30,334 in 2015, which represents a reduction of 13% compared to the figure for 2014, according to the latest foreclosure statistics published last week by the National Statistics Institute.   El Economista reported that the latest figure also indicates a change in trend since the number of housing foreclosures initiated in 2014 increased by 8%. In the fourth quarter of 2015, a total of 6,898 foreclosures were initiated on regular homes, which is 15.7% more than in the previous quarter, but 23% less than the number registered in the fourth quarter of 2014.   The Institute stresses that not all mortgage foreclosures end up with the eviction of the owners, and that the main objective of this statistic is to provide, on a quarterly basis, the number of foreclosures initiated and registered in the Property Registers during the period of reference. In 2015 a total of 101,820 foreclosures were initiated, which is 15.5% less than the total initiated in 2014. Of those, some 96,760 related to urban properties (including dwellings) and 5,060 related to rustic properties. Andalucía was the region which registered most housing foreclosures in 2015, with a total amounting to 16,094, followed by Catalonia (11,165) and Valencia (10,751), while the regions with the least number of housing foreclosures initiated last year were La Rioja (272), the Basque Country (300) and Navarra (338). Read...

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Licences for Home Construction Rose by 42.5% Y-o-Y in 2015

Posted by on Mar 12, 2016 in News

According to the latest data from the Ministry of Public Works, the number of building licences authorised in 2015 for new construction for residential use in Spain reached a total of 49,695. This figure represents an increase of 42.5% compared to the same period of the previous year, when a total of 34,873 licences were issued, and is the second consecutive year of positive data. Of the total number of permits granted during the whole of the year, some 35,025 were for apartments in blocks, with a year-on-year rise of 50.3%, and 14,651 were for individual family homes, with an annual increase of 26.8%. Moreover, there were an additional 19 permits issued for other types of building works not intended for family dwellings, which is three less than the figure registered during 2014. El Mundo reported that the significant increase last year comes after new builds broke the seven consecutive negative years streak in 2014, registering an increase of 1.7%, to reach a total of 34,873 licences granted in the year. This followed the historical minimum registered in 2013 when only 34,288 permits were issued which, compared to the peak levels reached in 2006 when a total of 865,561 permits were issued, represented a decline of 96%. Read...

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Average Price of Spain’s Housing Rose by 2.7% Y-o-Y in February

Posted by on Mar 10, 2016 in News

According to data from appraisal company Tinsa’s latest IMIE General and Large Markets Index, which measures any fluctuations in the average price of new and second hand finished housing in Spain from the housing valuations carried out by the company, average prices registered a year-on-year increase of 2.7% in February. This increase in average values is more significant if compared with February 2015, when the decline in average house prices intensified putting the index at May 2003 levels, their lowest since the outbreak of the crisis. Notwithstanding the marked decline the index recorded a year ago, the towns grouped in the Mediterranean Coast category showed the largest year-on-year increase in average prices in February (6.1%), despite registering a slight cumulative decline of 0.1% in the first two months of the year. Among the five areas analysed by Tinsa, the category made up of the Capitals and Large Cities registered the second best result, with a year-on-year improvement in the average prices of 4.6%. Tinsa’s press release reported that the average prices also increased by 2.5% in the Balearics and Canaries group, compared to February 2015, and in the Metropolitan Areas, average prices rose by 1.5%. In the smaller towns, grouped in the Other Municipalities category, average values in February showed a slight decline of -0.7% compared to a year ago, while in contrast they have accumulated an increase of 2.7% in the first two months of 2016. Read...

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Resale Housing Prices Fell by 0.9% in February

Posted by on Mar 7, 2016 in News

According to the latest real estate price index from property portal, idealista.com, prepared by analysing 377,114 properties on their database which were advertised between 25th January and 25th February, the average price of second handhousing in Spain registered a decline of 0.9% during the month of February, to stand at 1,583 euros/m2. Year-on-year, compared with February 2015 when the average price stood at 1,595 euros/m2, the decline is 0.8%. Only two of Spain’s regions registered increases in the average price of used housing: the Canary Islands(+1.5%) and the Balearic Islands (+0.3%). In Galicia the prices remained stable, while the biggest declines registered were those for La Rioja (-2.8%), Murcia (-2.2%) and Castilla y León (-1.8%). The Basque Country remains the most expensive region for second hand housing, with an average price per square metre of 2,550 euros, followed by Madrid (2,371 euros/m2) and the Balearic Islands (1,900 euros/m2). In contrast, the regions with the most affordable housing in February were Extremadura (955 euros/m2), Castilla-La Mancha (968 euros/m2) and Murcia (1,057 euros/m2). Read...

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