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Tag: property sales

Published on Leave a comment on Residential property prices in Spain rose 1.15% in the third quarter of 2014

Residential property prices in Spain rose 1.15% in the third quarter of 2014 compared to the same period last year, according to the latest index published by the Property Registrars.
That is the first time this index has edged clearly into positive territory since the Spanish housing bubble burst.

La Herradura Granada 300x199 - Residential property prices in Spain rose 1.15% in the third quarter of 2014On a quarterly basis prices were basically stable, with a decline of just 0.08% between June and September and the peak to present fall in house prices is 32.4% according the Registrars’ figures.

It says that these figures paint a picture of stable house prices. The registered number of homes sold also shows a favourable evolution with transactions up 1.4% to 79,561 sales in the third quarter compared to the second. The market bottomed out with 72,560 sales in the fourth quarter of 2013.

The improvement was driven by resale properties with 52,127 sales, practically double those of new builds at 27,434. Resale transactions were up 4,268 on the second quarter, meaning a quarterly rise of 8.92%, against a fall of 10.36% in new builds.
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Published on Leave a comment on Housing prices register fall of 37 percent since 2007 highs

Housing prices dropped again in the last three months of 2013, representing an accumulated fall of 37 percent since the highs of 2007.

calpe 300x225 - Housing prices register fall of 37 percent since 2007 highsBut the International Monetary Fund (IMF) as well as ratings agencies such as S&P warn that prices in the Spanish real estate market must fall even more before the sector will reach a full adjustment.

According to the Index of Housing Prices, updated by the National Statistics Institute (INE), average house prices dropped 7.8 percent between October and December 2013 compared with the same period in 2012. This decline is one-tenth of a percentage point lower than the previous quarter, and represents the smallest drop since the summer of 2011.
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Published on Leave a comment on Malaga, The Province with the Biggest Growth in Property Sales

For the second time in just a few weeks, positive figures have been issued about the property market in Malaga. Earlier this month, figures from the National Institute of Statistics revealed that property sales in Malaga province had risen for the first time since the beginning of the crisis, and now figures from the Ministry of Public Works show that the number of property transactions increased more here than in any other province of Spain in the third quarter of this year, compared with the same period of 2012. There was an increase of 25.4 per cent, bringing the total number of sales to 5,059.

foto 925327 300x225 - Malaga, The Province with the Biggest Growth in Property SalesThose in the property sector are crossing their fingers and hoping that the trend continues. The Costa del Sol and the Levante region were the first to enter recession and may also be the first to come out of it, according to reports issued by the Ministry which show that after Malaga, Almeria, Barcelona and Murcia are the provinces in which the most properties were sold in July, August and September, compared with the same months last year.

Nevertheless, property developers point out that Malaga province offers a climate and infrastructure with which the Levante region cannot compete, even though it may be cheaper to buy a property there. “Nobody can beat us in terms of climate and services”, says Violeta Aragón, the general secretary of the Association of Builders and Developers (ACP).
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Published on Leave a comment on Spanish bad bank reorders property sale as bids fall short: sources

Spain’s bad bank failed to attract high enough bids in its first sale of commercial real estate and will cut the size of the portfolio being offered to make it easier to sell, Bloomberg quoted three people familiar with the matter as saying on Friday.

house in orihuela costa - Spanish bad bank reorders property sale as bids fall short: sourcesThe bad bank, known as Sareb, received more than 30 offers for the portfolio that were lower than it expected, said one of the people, who declined to be named because the information isn’t public. It will reduce the number of buildings in the package known as Corona to four from seven, the person said. A spokeswoman for Madrid-based Sareb declined to comment.

Spain created Sareb last year to absorb 50 billion euros of real-estate assets from lenders including Bankia group that took aid as part of the nation’s European bailout. Its failure to attract high enough bids may undermine growing optimism in Spain as the stock market has surged 20 percent this year and foreign investors including Microsoft Corp. founder Bill Gates buy into Spanish companies.
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Published on 1 Comment on Doors Open on the Spanish Property Sales

If ever there was a time to snap up a bargain Spanish property is now

Never before has the chance been so affordable to own your own Spanish property, to live, retire, work or generate revenue by cashing in on the still increasing tourism market.

According to the real estate valuation firm Tasaciones Inmobiliarias (Tinsa), in Andalucia, the average price of housing fell by 6.8 per cent in August over the same month of 2010, which marks an incredible accumulated drop of 23.5 per cent since its peak in late 2007.

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