Property pundits have been concerned that sales of newly built Spanish homes appear to be low, contradicting the notion that a solid recovery is in full swing. In fact all the evidence shows the new developments from Madrid to Alicante, and from Marbella to Mallorca are selling very well.
So why isn’t this translating into official figures? The reason is that home sales won’t be entered into the property register until they are fully built and have habitation certificates, meaning we can take these seemingly low sales figures with a pinch of salt.
On to the wider sales market, which includes second-hand homes, and the latest figures from the National Institute of Statistics show strong growth across key regions including the Costa Blanca, Costa del Sol, Murcia, Balearic Islands, and the cosmopolitan centres of Madrid and Barcelona.
...continue reading "Sun Shining on Spanish Property Sales"
Figures published by the Spanish Statistics Institute (INE) confirm that market recovery is well under way and that sales activity now lies at levels on a par with those at the start of the crisis.
In Málaga province last year, 24,705 properties were sold, the highest figure since 2008. 2015 saw an increase of 11 per cent in sales and was the third consecutive year of growth. The Málaga property market has been growing since 2013 while national and regional recuperation did not start until 2014.
The rise of 11 per cent for last year in Málaga does, however, mark a slight slow down in recovery when compared to the 14 per cent growth in 2014. But experts point out that this is because high increases are easier when initial figures are very low.
...continue reading "Property sales in Málaga reached in 2015 their highest level since 2008"
Residential property sales in Spain are continuing to rise with the latest data showing that the number of transaction recorded by notaires increased by 7.3% compared with the same month in 2014.
It marks some 18 months of continuous growth, the figures from the General Council of Notaires shows with its analysis report saying that the recovery in the housing market is being maintained.
A breakdown of the data shows that apartment sales increased by 6.2% year on year, more than double the increase recorded in October 2015. This was due to sales of free price apartments rising 8.3% and also sales of second hand apartments rising by 12.2%.
Sales of individual family homes also saw strong growth, up 11.4%, recording nine months in a row of double digit increased. However, sales of new housing fell for a tenth month in a row, down in November by 18.6%.
...continue reading "Residential property sales up for 18th month in a row in Spain"
The number of house sales in Spain increased 15.5% in February compared with the same month in 2014 – the largest rise in recent months – according to data released by the National Statistics Institute (INE) on Thursday.
Property sales have now increased for six consecutive months as the market gradually begins to recover from the huge crash that hit when Spain’s housing bubble burst at the end of 2007. The rise can be attributed exclusively to a 50.4% increase in sales of existing homes – 21,613 of the 29,714 transactions carried out in February were of this sort.
In contrast sales of new homes dropped 28.6% compared with the same month last year, with just 8,101 operations.
...continue reading "Number of property transactions in Spain has risen for six months in a row"