Posted by mmmadmin on Dec 21, 2016 in News
Third quarter data from the Registrars shows Almeria is the rising star in a strengthening Spanish housing market. Reading Spanish property statistics is as much art as science, and the story can quickly change depending on your source. Last week the Notaries generated a stream of headlines from their September housing data which showed a 10% annual rise in sales. This should have been helpful, but they neglected to tell us anything about where these sales happened. Luckily, Registradores de España came to the rescue (if you know where to look). Their less championed monthly statistics on the “Transfer of Property Rights” includes house purchases by province, and these provide a much fuller picture of local market trends. They also tell us about the all important first quarter since the Brexit vote. Q3 house sales rose 11% The picture is undeniably healthy. The registrars reported 34,931 transactions in September, and a total of 103,516 in the period July – September 2016 (Q3), a rise of 11.2% versus 2015. In case you thought it was a blip, this also marks 10 consecutive quarters of annual growth. 2016 has been the best year to sell houses in Spain for a very long time. Almeria’s explosive growth Studying Q3 housing transactions by province reveals mixed success in the battle for summer sales, but perhaps the most remarkable winner is Almeria. Around a quarter of sales here go to foreign buyers, and the province recorded a 93% increase in sales in Q3 (rising from 1,810 sales in Q3 2015 to 3,497 this year). In short, the market effectively doubled in size. With the rest of Spain growing modestly, Almeria stands out as enjoying a significant boom. Read...
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Posted by mmmadmin on Dec 21, 2016 in News
Kyero’s October report shows foreign buyers went sun chasing in October, with the Canaries now trending. Asking prices and buyer demand were largely unchanged on September, but the Canary Islands have made a big appearance in our Trending destinations list. This is an annual pattern, but it comes at the end of a particularly good year for the Canaries. The Ministry of Development (Fomento) just reported a healthy rise in foreign sales, particularly in Tenerife where half of all house sales in Q2 2016 went to international buyers. According to the official House Price Index, the Canaries are now one of the most recovered regions in Spain. Prices fell less sharply and recovered much more steadily here than in the roller coaster markets of Madrid and Barcelona. By comparison, the islands offer a haven for risk-averse international investors. British buyers continue to dominate demand in Lanzarote, but Kyero’s October data shows the Italians may be about to permanently overtake them as the dominant buyers in Tenerife, Gran Canaria and Fuerteventura. Latest asking prices Kyero’s median asking price rose slightly in October to €245,000 and the adjusted annual trend shows prices are now up 5.6% in the past 12 months. These calculations are based on 214,362 residential properties for sale listed at Kyero.com. Read more...
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Posted by mmmadmin on Dec 4, 2016 in News
One in five house sales now go to international buyers, Alicante leads, and Tenerife is now on par with the Balearics. The Ministry of Development (Fomento) recently released their second quarter data on housing transactions in Spain. It may be slow to arrive but the data is particularly interesting because it reports the number of foreign buyers in each province. It reveals activity across Spain rose 15% annually in the period from April to June 2016. They recorded a total of 123,159 housing transactions. Over 22,000 of these sales were to foreign buyers – or 18.2% of the housing market. Alicante, Málaga and Barcelona provinces are the leaders by volume of sales, and all showed very strong growth (see table). In terms of where foreign buyers are having the largest impact, Alicante, Tenerife, the Balearics and Málaga take top spot. Over half the housing market in Alicante is now driven by international buyers. Santa Cruz de Tenerife deserves some extra attention. The western Canaries have seen particularly strong growth, with foreign sales rising nearly 40% YOY, and now accounting for nearly half of all house sales. This also puts Tenerife on a par with the Balearics in terms of property purchases by foreigners. Read...
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Posted by mmmadmin on Dec 4, 2016 in News
Kyero’s September report showed a large increase in sales leads, but also a post-Brexit squeeze on budgets. Kyero’s latest Spanish property report is now available for download. (PDF, 720Kb) Property enquiries up 64% year on year Kyero served just over 434,000 users in September 2016 and recorded 62,596 property enquiries, a rise of 64% on the previous year. This is largely the result of significant investment in the platform in 2015 and marks a record month for the website. Comparison of this data with figures from Rightmove Overseas confirm that Kyero has now moved into a leading market position, outperforming its nearest competitor by 4 to 1 based on search activity. Buyer budgets reduced since Brexit vote There was some evidence of buyers trimming their budgets in September, with enquiries falling slightly on properties over €250,000 while lower priced options rose. Overall 62% of enquiries were for properties under €150,000. We attribute much of this adjustment to the fall in Sterling since the Brexit vote. British buyers are important. They are the single largest overseas nationality in the market, with notaries reporting they made up around 21% of foreign house sales in 2015. They also represent 27% of Kyero’s traffic. Read...
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