According to the Real Estate Trends Report from the Appraisal Society the average price of houses in Spain experienced an annual average increase of 5.5% in 2018, standing at 1,613 / m2. In the second half of the year, the average price increased by 2.7%....continue reading "The price of the houses in Spain grows 5,5%"
Looking ahead to 2016 it looks as if the Spanish house market will continue to recover but the latest data shows it is still a rollercoaster and growth very much depends on location.
However, the increase is somewhat exaggerated by an unusual fall in prices last year and on a monthly basis prices were down a fraction compared to September.
The Tinsa index shows, however, that the recovery is broad based as house prices rose in all the areas covered. Prices in Barcelona and Madrid were up by 3%, coastal areas popular with overseas buyers saw price growth of 1.4% and the Balearic and Canary Islands 0.2%.
But the recovery still has some way to go as since the peak of the market house prices are still down 41.3% in general, and 48.2% on the coast.
The Balearic Island saw price growth of 0.9% followed by the Canary Islands up 0.5%, Andalucía up 0.3%, Navarra and Castilla-La Mancha both up 0.1%.
...continue reading "Spanish Property Market Recovery Set to Continue in 2016"
House prices in Spain rose on a quarterly basis for the first time since the middle of 2010 in the third quarter of this year, but experts were quick to point out that this does not mean that the housing market has started to emerge from trough it plunged into around the start of 2008.
Prices on average have fallen over 40 percent from their highs around the end of 2007 after more than doubling over the course of a decade-long boom that turned to bust.
The INE said that home sales in October declined 10 percent from the same month a year earlier to 22,770, the lowest figure since March and one of the lowest since the real estate bubble burst.
Although the economy emerged from an extended recession in the third quarter of this year, a jobless rate of 26 percent remains a major impediment to a recovery in the housing market, which still has an estimated glut of some 600,000 housing units. Banks have also tightened up on lending, citing a lack of “solvent demand.”
Would-be home buyers are finding it hard to secure the necessary funding at current prices and seven out of 10 transactions taking place are in cash.
...continue reading "Spanish Property Market: House Prices Rise on Quarterly Basis"