Posted by mmmadmin on Mar 30, 2017 in News
Signs of British nerves are drowned out by a European show of force. February continued 2017’s bouncy start, with over 550,000 people visiting Kyero. They generated just under 62,000 sales leads for our agents, a 25% annual rise. Looking back over a year of double digit growth, I’ll admit it was becoming hard to pick out the real strengths and weaknesses in the international market. When every indicator is green, it’s tough to separate trends from threats. However, I think March 2017 will mark a change of narrative. European buyers step on the gas Spain has always put a focus on British buyers, but it’s easy to forget they account for just 1 in 5 foreign sales. Most market statistics break buyers down by country (putting Brits forever in the no.1 spot), but European buyers are a much bigger market. If we report European buyers collectively, the picture looks very different: Over 60% of Kyero’s audience are now European, and with traffic from this group hitting double digit growth since the summer, it’s easy to see where the real sales drive is coming from. To help clarify the picture, our monthly market report now breaks the audience into both national and European groups. In a market that is increasingly multilingual, Kyero’s decision to operate in 13 languages has turned out to be a reassuring move. We’re nicely placed to follow a shifting audience. British pensioners take fright A strange thing happened to British traffic in February: Visitors hit an all-time high, then they blinked. UK visits grew 36% on the previous year, but following months of enquiries growing at a similar rate, enquiry growth stalled. Sales enquiries from British buyers grew just 1.5% versus February 2016. How can UK visitor numbers reach record levels, while enquiry growth dries up? It means British buyers still want to buy, but they’re becoming less likely to progress their search to a viewing. Listening in on buyer chatter shows Article 50 is the obvious culprit. Brits are now in a holding pattern while they wait to see how Brexit negotiations progress. Arguably the group with the most to lose from Brexit are British pensioners, and we detected clear signs of their nervousness in the latest traffic demographics: Read...
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Posted by mmmadmin on Mar 5, 2017 in News
The Mortgage Statistics data published today by the INE show an increase in the 14% mortgage concession during 2016, which is the third consecutive year of growth in financing. According to Beatriz Toribio, responsible for Studies at fotocasa , “consolidation of mortgage financing has been one of the most important keys to the good moment in the sector”, since “during 2016 we have witnessed a ‘mortgage war’ that has Put on the market a wide offer of mortgage loans and new forms of financing such as mortgages at fixed rates, which were practically non-existent in our country and now account for almost a third of the loans that are signed “ Toribio believes that the mortgage financing context “will remain positive in 2017, but more moderate.” “With the eurobond at record lows, the banks’ interest in going back to the mortgage business and the ECB’s intention not to raise short-term interest rates, 2017 may be a good year to sign a mortgage. But it will be difficult to find the attractive offers we have seen so far. “ Proof of this is that with the beginning of the year a good number of banks have increased their mortgage products, both at variable and fixed rates. “The latest court rulings on land clauses and mortgage costs will be transferred to mortgages, the question is how far and how”, adds Beatriz Toribio. “An increase and above all a reduction of mortgage financing would have an immediate effect on the real estate market, at a key moment for its recovery.” Read...
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Posted by mmmadmin on Mar 5, 2017 in News
February 23, 2017 2 On a year-on-year basis, the price increased by 7.9% The average rental price in January is € 7.61 / m2 per month The price rises in 10 autonomous communities at monthly level and 15 at the interannual level Barcelona is the most expensive municipality to rent a house in January All districts of Madrid and Barcelona rise year-on-year The average price of housing for rent in Spain increased by 1.7% in January and stands at 7.61 € / m2 per month, according to the latest data from the real estate portal fotocasa . This monthly increase in the price of rental housing is the most marked in the history of the Real Estate Index since December 2007, when the price rose 1.8% over the previous month. In addition, the rental price increases was 7.9% year on year compared to January 2016 and is the most marked increase has registered the historical the Real Estate Index fotocasa since he began his analysis 10 years ago. In January 2017 the rental price is increased in 10 autonomous communities at monthly level and 15 at the inter-annual level. “The rental market is experiencing strong price tensions as a result of the greater pressure of demand, since despite the reopening of the credit line by banks many Spaniards can not access it and that Are forced to take refuge in the rent as the only way to access a home. This pressure becomes much more evident in large cities such as Madrid and Barcelona where tourist floors and high rent yields explain that in many districts prices are rising at a rate of more than 15%, “explains Beatriz Toribio, responsible Of Studies of fotocasa . Since reaching the maximum price in May 2007 (€ 10.12 / m2 per month) the price of housing has accumulated a fall of -24.8%. In this sense, four autonomous communities fall more than -30% since reaching the maximum price five years ago. Thus, Aragón is the community that has seen the lowest rent (-38.6%), followed by Castilla-La Mancha (-35%), Cantabria (-33.7%) and La Rioja (-31, 3%). By Autonomous Communities , in January there were 10 increases in the rental price, with increases ranging from 1.7% in Catalonia to 0.2% in the Comunitat Valenciana. Read...
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Posted by mmmadmin on Mar 5, 2017 in News
In 2016 the real estate market has strengthened the revival that began to be envisaged in 2014 and offers a more encouraging picture. This year all the indicators that control the health of the housing market (sales, mortgages, visas, etc.) have registered double-digit growth rates that we have not seen for years. This improvement has been translated into prices. For the first time in nine years, the real estate index fotocasa closes a year with a positive variation of the sales price of second – hand housing (1.9%) , which contrasts with the fall of -0.8% in 2015 and above all With a decline of -6% in 2014 and -10% in 2013. This increase is the second to record our Index in its 12-year history and after nine years of continued declines in the price of second-hand housing. The data from our report reveals that the strong wind blows in favor in more points of the country compared to 2015, but they are the great cities and the main tourist destinations of the coast where the prices record the most significant increases. Barcelona and Madrid capital and bordering municipalities are the main highlights, along with the Balearic Islands and other coastal enclaves. The return of greater and better financing, the devaluation of housing by almost 45% from the pre-crisis highs, the investment appetite in a context of low interest rates, high yields offered by rent and a macroeconomic scenario More encouraging are the normalization to which the sector tends and the stabilization of prices, except for the big capitals where one can already speak of recovery. Once again in 2016 the different speeds to which the sector is moving and the unequal behavior of prices have become evident. At the end of the year, the Balearic Islands (8%), the Canary Islands (7.8%), Andalusia (3.1%), Comunidad Valenciana and Madrid (both rose by 2.4%) and Catalonia , Which increased by 2.2% in 2016. These increases contrast with the fall of -6.8% in La Rioja or the decrease of more than -2% in Cantabria, Castilla y León and the Basque Country. However, they are slight falls compared to the two-digit declines that prevailed at the end of 2013. This selective recovery becomes more evident when analyzing the cumulative fall from the peak price recorded in 2007. If the national average has dropped from -45.2% in 2015 to -44.1% in 2016 in the big cities Like Barcelona this percentage reduces to -28.2% and in Madrid capital to -37.9%. Read...
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Posted by mmmadmin on Mar 5, 2017 in News
The price rises in seven autonomous communities The price of second-hand housing is € 1,649 / m2 in January 25 provinces increase the price in the month of January It raises the price in all districts of Barcelona and in 13 of Madrid The average price of second-hand housing in Spain stands at € 1,649 / m2 and remains stable (0.0%) compared to December, according to data from the real estate portal fotocasa . This data shows once again that the price of second-hand housing is stabilizing and that we are leaving behind the large price falls we have seen in recent years. Regarding the year-on-year variation, the price to January 2017, the price of second-hand housing increased by 1.6% and chain four consecutive months with year-on-year increases above 1%. “Second-hand housing is being one of the main drivers of the reactivation that the real estate market is experiencing and this is shifted to prices. Our index reflects month by month a trend towards normalization in almost all the country that, in the case of the great squares like Madrid, Barcelona and tourist areas of the Mediterranean coast, one can speak of recovery “assures Beatriz Toribio, responsible for Studies Of fotocasa . The average price of second-hand housing in Spain has fallen by -44.1% since it reached its peak in April 2007 with € 2,952 / m2. In this sense, 12 autonomous communities have fallen more than -40% since reaching the maximum price nine years ago. La Rioja (-58.1%), followed by Aragón (-53.1%), Navarra (-52.8%) and Castilla-La Mancha (-52.6% ). Read...
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