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The number of homes sold in March increased by a 12 per cent

SpainHouses.netMay 25, 2015May 25, 2015Leave a comment

The number of homes sold in March increased by a healthy 12 per cent compared to the same time last year, but house prices slumped by 7.5 per cent in the same period, reveal the latest figures from the Spanish Notaries’ Association (Consejo General Del Notariado).

The Notaries witnessed 34,736 homes sales in March, up from 30,950 the same time last year, a rise of 12 per cent.

The increase in sales would have been even bigger were it not for another huge monthly fall (32.6 per cent) in the number of new flats sold, as the supply of attractive new homes dries up.

Rising sales were accompanied by yet another month of falling prices – the biggest in more than a year. The average price of property in Euro per square metre was 1,202 €/sqm, down 7.5 per cent on last year, and 36 per cent since the start of the crisis in 2007.
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Property market in Spain is experiencing an uptick in sales

SpainHouses.netMay 18, 2015March 31, 2020Leave a comment

After seven years of stagnation the property market in Spain is experiencing an uptick in sales and prices have reached bottom.

With the Spanish economy improving, unemployment falling, tax revenue growing and a more stable banking system, lending figures are on the rise.

The typical mortgage lending rate dropped from 4.21% to 3.29% over the course of 2014 and this has fed through to buyer confidence. Andalucía and the Canary Islands have seen some of the strongest surges in mortgage lending, up 25% and 26% respectively month on month, compared to the national average of 14.2%.

This renewed confidence and interest in Spanish real estate is most evident in Madrid and Barcelona where capital flows into both cities’ commercial markets topped €2.7 billion in 2014.

The return of large US investment funds has been notable but not just in Spain’s main cities. Marbella, a popular area with overseas buyers is building on a property market recovery that began in 2013 despite Spanish buyers failing to return in any significant number in 2014 and the Ukraine crisis impacting on the number of Russian buyers.
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More signs of recovery in Spanish property market

SpainHouses.netMay 4, 2015April 2, 2020Leave a comment

The Spanish residential property market is showing further signs of recovery with the latest national figures showing that completed sales in February were higher than 2014 and 2012.

But the data from the National Institute of Statistics also shows that sales were lower than 2013. However this was when tax breaks for buyers inflated registered sales.

Year on year, the market has increased 14% as a whole, but by 53% in the resale market, a substantial increase by any standards. But sales of new builds are not doing well, down 30% compared to the same month last year.

There is also considerable regional variation. For example, the growth in homes sales in coastal areas that attract foreign buyers has been generally above the national average, as foreign demand is boosting sales in most of those areas.
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Four-bedroom house in Spain ‘sold’ in €10 raffle 1

SpainHouses.netApril 27, 2015April 27, 20151 Comment

This four-bedroom house in rural Valencia was given to its newest owner after winning a raffle.

When the previous owners, the Bolumar family, first wanted to sell the house they had inherited two years ago in Segorbe, a town of 9,300, they tried to do it the traditional way, listing it for €90,000. But the struggling Spanish housing market yielded few potential buyers.

The family began considering other ways to sell. Most ideas were dismissed quickly, save one. “Raffling it off seemed interesting – people would have the chance to acquire a home for a low cost and we would still end up covering the cost,” Bolumar said.

From there began a year-long project, with the family wrestling their way through seemingly endless amounts of red tape to obtain authorisation from the country’s tax authorities to be the first in Spain to raffle off a house.

The €10 tickets, sold from a kiosk in Valencia as well as online, offered the chance to win the 141 sq metre home, no strings attached.
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Russian demand for properties in Spain has gone down 1

SpainHouses.netApril 20, 2015April 20, 20151 Comment

Foreign demand has continued to boost the Malaga province property market. Last year, it recorded a 28 per cent increase in real estate sales to non-Spaniards, according to figures released by the Ministry of Public Works.

Of the 23,929 properties that were sold in the province in 2014, 9,190 were bought by foreigners, representing 38 per cent.

The sale of houses to foreign buyers has almost doubled in the past two years: from 5,140 in 2012 to 9,000 last year.

The good news is that last year purchases by Spaniards also rose by 29 per cent. But what is in “bad shape”, according to the president of the Association of Constructors and Developers, José Prados, is the demand for first homes.
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