1. Duplex for sale in Santa Eulalia del Río, Ibiza (Balearic Islands) 2 bedrooms, 1 bathroom, Built area 70m2, Swimming-pool, 500m away from the Beach, Second Hand, In Urban Area, Air conditioning, Fully furnished
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 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.
The timid recovery of the Spanish real estate market has started to become noticeable in property prices.
Free-market house prices experienced their first quarterly increase in late 2014, according to figures released by the Public Works Ministry. There had not been an uptick in the market since early 2008.
Prices rose 0.5% in Spain as a whole thanks primarily to a surge in demand for existing homes, which now represent nearly two thirds of sales.
The value of existing homes grew 0.2% from the previous quarter, while the price of new homes retreated 0.1%.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.