Posts Tagged ‘Property market trends’
The Spanish house price index figures for June 2010 have just been released. See the graph and the table below for an up to date overview of the real estate market trend in Spain.
Spanish property prices are still falling, but by less with every passing month. Average Spanish property prices fell by 4.4% over 12 months to the end of June, show the latest figures. The rate of decline has been slowing since June 2009, when it peaked at -10.1%. If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year. Prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for holiday and retirement homes. Prices are down just 3.0% on the coast.
The graph and table data represent the year-on-year evolution of Spanish property values. For example, if the value for August 2009 would be -3.9, then this means that average property prices in August 2009 are 3.9% lower than they were a year earlier, in August 2008.
The graph and table on this page contain up to date information for the past 13 months. For more information, please look at earlier monthly reports, or the historical overview since January 2001.
The graph and table data are based on actual property valuations, as established by one of Spain’s larget independent property valuation companies, Tinsa S.A. They are not based on asking prices or (under)declared selling prices, nor on the statistics as provided by the Spanish Ministry of Housing, and are therefore considered to be the most acurate and reliable source for this kind of information.
Tags: House price index, Property market trends
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The Spanish house price index figures for May 2010 have just been released. See the graph and the table below for an up to date overview of the real estate market trend in Spain.
Spanish property prices are still falling, but by less with every passing month. Average Spanish property prices fell by 4.4% over 12 months to the end of May, show the latest figures. The rate of decline has been slowing since June 2009, when it peaked at -10.1%. If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year. Prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for holiday and retirement homes. Prices are down just 4.1% on the coast, and 2.4% in The Canaries and The Balearics.
The graph and table data represent the year-on-year evolution of Spanish property values. For example, if the value for August 2009 would be -3.9, then this means that average property prices in August 2009 are 3.9% lower than they were a year earlier, in August 2008.
The graph and table on this page contain up to date information for the past 13 months. For more information, please look at earlier monthly reports, or the historical overview since January 2001.
The graph and table data are based on actual property valuations, as established by one of Spain’s larget independent property valuation companies, Tinsa S.A. They are not based on asking prices or (under)declared selling prices, nor on the statistics as provided by the Spanish Ministry of Housing, and are therefore considered to be the most acurate and reliable source for this kind of information.
Tags: House price index, Property market trends
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The Spanish house price index figures for April 2010 have just been released. See the graph and the table below for an up to date overview of the real estate market trend in Spain.
Spanish property prices are still falling, but by less with every passing month. Average Spanish property prices fell by 4.6% over 12 months to the end of April, show the latest figures. On a monthly basis, prices even rose a fraction. The rate of decline has been slowing since June 2009, when it peaked at -10.1%. At this rate, average property prices will be stable, or even growing slightly within about 6 months.
The graph and table data represent the year-on-year evolution of Spanish property values. For example, if the value for August 2009 would be -3.9, then this means that average property prices in August 2009 are 3.9% lower than they were a year earlier, in August 2008.
The graph and table on this page contain up to date information for the past 13 months. For more information, please look at earlier monthly reports, or the historical overview since January 2001.
The graph and table data are based on actual property valuations, as established by one of Spain’s larget independent property valuation companies, Tinsa S.A. They are not based on asking prices or (under)declared selling prices, nor on the statistics as provided by the Spanish Ministry of Housing, and are therefore considered to be the most acurate and reliable source for this kind of information.
Tags: House price index, Property market trends
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A new generation of British buyers are entering the Spanish property market – lured by cheap homes. UK agent sales are up on this time last year, with more Brits choosing investment properties in locations such as Turkey and Egypt. But buyers who were putting off finding holiday homes during the recession are also returning to traditional destinations such as Spain.
Holiday-home buyers in Spain and France still dominate the market – and many have decided now is the time to buy. The two countries made up two-thirds of UK based broker Conti’s overseas mortgage business last month.
Enquiries for Spanish properties make up 92% of the current demand, compared with 50% just two years ago. Two-thirds of our clients have been registered with us for over a year. Most people have thought about buying before – Spain isn’t a new destination for them. But there’s been some recognition that maybe prices won’t go down further.
Tags: bargain prices, buying property in Spain, House prices, Mortgage Lending, Property market trends, Spanish property
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Asking prices for resale properties fell just 0.9% over 3 months to the end of March, according to data collected by Idealista.com, a leading Spanish property portal. The table above gives price changes for selected regions.
As a result, the average asking price of property in Spain finished March at 2,387€/m2, with wide variations between regions. The Basque Country has the most expensive property (3,482€/m2), followed by Madrid (€3,282/m2) and Catalonia (2,828€/m2). Regions at the other extreme, with the cheapest property, are Extremadura (1,437€/m2), Murcia (1,506€/m2) and Castilla-La Mancha (1,627€/m2).
Changes in asking prices are an important market indicator, as vendors tend to raise or drop their asking prices in response to demand. Nevertheless, they are not an accurate guide to transaction prices.
Tags: House prices, Property market trends, Spanish property
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The Spanish house price index figures for March 2010 have just been released. See the graph and the table below for an up to date overview of the real estate market trend in Spain.
Spanish property prices fell by 5.3% over 12 months to the end of March, according to the property price index published monthly by Tinsa, one of Spain’s leading appraisal companies. However, prices inland fell by only 4.0%, which is similar to last month’s 3.8%, and confirms a general trend towards smaller price declines. At this rate prices of inland property will be stable or rising again sometime in the next few months.
The graph and table data represent the year-on-year evolution of Spanish property values. For example, if the value for August 2009 would be -3.9, then this means that average property prices in August 2009 are 3.9% lower than they were a year earlier, in August 2008.
The graph and table on this page contain up to date information for the past 13 months. For more information, please look at earlier monthly reports, or the historical overview since January 2001.
The graph and table data are based on actual property valuations, as established by one of Spain’s larget independent property valuation companies, Tinsa S.A. They are not based on asking prices or (under)declared selling prices, nor on the statistics as provided by the Spanish Ministry of Housing, and are therefore considered to be the most acurate and reliable source for this kind of information.
Tags: House price index, Property market trends
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Spanish property purchases were up by almost 19% in February compared with the same month last year, with 41,033 sale & purchase operations being recorded, consolidating the 2.1% increase recorded in January.
The latest figures, released today by the National Institute of Statistics (INE) show the biggest increase so far during the recession, with no increases at all having been recorded since 2008 until the beginning of this year.
In absolute terms, Andalucia recorded the highest number of homes sold in February (7,449), followed by Madrid (7,018), Catalunya (5,514) and Valencia (4,896).
Tags: Property market trends, Recovery, Spanish property
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There’s a growing feeling of confidence amongst prospective overseas property buyers, according to Conti, the overseas mortgage specialist. It’s just had its busiest month for almost a year in terms of mortgage ‘go aheads’, the point where prospective buyers take their mortgage quotes through to the application stage. These increased by 48 per cent during March, compared with the previous monthly average. The proportion of prospective buyers progressing from the quote stage to the go ahead stage has also increased, suggesting that buyers are becoming more serious about their intended investment.
Despite the turbulence unleashed on the UK mortgage market by the global banking crisis, Conti says that overseas mortgage providers have a healthy appetite for lending to foreign investors. But a combination of factors, not just mortgage availability, are contributing to the attractiveness of this market. Falling property prices, in some cases by up to 50 per cent, and historically low interest rates are making it much more affordable, despite the current strength of the euro.
Clare Nessling, Conti’s Operations Director, says: “Falling property prices across many European destinations mean that the chance of owning a place in the sun may never be better, and historically low interest rates mean it’s become even more affordable for British buyers. The most popular destinations amongst our clients are still France and Spain, both of which come with easy access and good rental opportunities. Confidence is definitely growing, but there’s also an element of buyers snapping up bargains in traditional hotspots while they have the chance.”
Tags: buying property in Spain, Mortgage Lending, Property market trends, Recovery, Spanish property
Posted in Financial & Mortgages, Property market | 1 Comment »
The latest figures from the National Institute of Statistics (INE) show that the Spanish property market grew by 16% in February compared to the same month last year, building on the trend started in January. This suggest the market has touched bottom and is starting to recovery after 2 years of declines, at least in some areas. Not including social housing, there were 35,720 home sales in February, 21,368 of them newly built and 19,665 resales.
Story by Mark Stucklin
Tags: Property market trends, Recovery, Spanish property
Posted in Property market | 1 Comment »
The report from Savills International Research revealed how far the overseas property market in the UK had fallen over the last year. Just 2% of the 430,000 foreign-home owners in the UK bought their property in 2009, compared to 70% who bought between 2003 and 2008.
“By spring 2009 Savills International noted that interest in international holiday homes had returned, albeit at far lower levels than previous years,” said the report. “The market has now reverted back to traditional, end-user buyers (as opposed to investors), and mostly in traditional, established hotspots.”
The high number of distressed sales that have contributed to oversupply and falling prices has helped keep pure investors out of the market, it added. “In contrast to previous years, investors solely seeking to capitalise on upward price movement are no longer active in the market place.”
Savills’ head of international, Charles Weston-Baker, told OPP that mid-market buyers had also started to return to the market. “We have started to see more grassroots sales coming through,” he said. “The very top of the market has largely been unaffected, but now end-users who are looking for lower-priced but quality property are buying to enjoy the product.
“We’ve also noticed how important sport has become to buyers, especially for baby boomers and those retiring. There’s a new enthusiasm for experiential holidays and buyers need a reason to be somewhere, such as golf or horseriding. We seem to have jumped 20 years in aging, where people are slowing down at 80 rather than 60.”
The report predicts another quiet year for the UK holiday home market, with most sales taking place to high-income lifestyle buyers in traditional locations, with little activity in the speculative or off-plan markets.
The proportion of people buying in major cities and in villages grew substantially at the expense of smaller towns and isolated rural locations. The popularity of purpose-built resorts also increased.
“This reflects not only the growth in preference for such developments but also the rise in quality and quantity of such communities,” said the report. Interest in buying property to renovate or improve also fell, mirroring the rise in resorts where ready-to-go homes maximise letting potential.
Savills’ market has become skewed towards mid-to-top end buyers, and properties worth more than £200,000 now form the majority of purchases, with a particular fall in popularity of homes worth less than £100,000.
Story from OPP (registration)
Tags: buying property in Spain, Euribor, Property market trends, Spanish property
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