Price of Second-Hand Homes Up in May

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Category Archives: Property Market

Price of Second-Hand Homes Up in May

Prices fell 2.1% in Barcelona in May

Despite the state of alarm and the lockdown measures in Spain, the price of a second-hand home increased by 1.3% in May, when compared to April. The year-on-year variation is -1.1%. The change puts the average price per square metre at 1,878 euros, according to figures from the fotocasa real estate index. Prices by Autonomous Continue Reading

Home Purchases by Foreigners Up in 2019

European buyers dominate sales to foreigners

In the second half of 2019, the sale of housing to foreign buyers increased by 0.5% year-on-year, according to figures released by the General Council of Notaries. Sales to foreign buyers recovered from the 3.2% decline which we saw in the first half of the year. Non-resident foreign buyers accounted for 42% of operations, a Continue Reading

COVID-19 Hits Sales Figures in March

Empty beaches, empty real estate offices!

Figures released by the INE this week reflect the predicted decline of property sales in March with an 18.6% fall. This followed the return to positive monthly variations in February after six consecutive months of falls. Of course, the fall in March is a direct result of the declaration of a state of alarm by Continue Reading

Cost of Renting Rises Despite Lockdown

Madrid: most expensive for renting

During the first quarter of 2020, the cost of renting a home in Spain has increased by 6.5%, a trend that is expected to continue despite the situation with corona virus. The increase is the largest recorded in a first quarter in over 14 years of data, according to the fotocasa real estate index. The Continue Reading

Home Sales in Spain Slow in February

Andalusia saw 8,882 home sales in February

In February 2020 there were 89,710 property sales registered in the public records. This represents a fall of 1.1% when compared to February 2019. When compared to the previous month the variation is -0.5%, according to figures released by the INE. In terms of home sales, there was 44,104 registered sales recorded in the registers. Continue Reading

Property Buyers Looking Beyond Cities

Not much space available in Spanish cities

Over three weeks of being confined to your home can make you wonder if it really is your home. According to a study carried out by Idealista, since the state of alarm was declared in Spain, the number of property buyers searching for a home within the provincial capitals has dropped from 44.1% to 38.8%. Continue Reading

House Prices Down in First Quarter

House prices in Malaga fell 2.57% in Q1

According to a quarterly report from pisos.com, the average price of second-hand housing in Spain in March was 1,690 euros per square metre. This represents a decrease of 1.25% when compared to December 2019. Year-on-year, the fall is slightly smaller at -0.61%. When comparing March to February, the contraction is -0.89%. “The trend towards a Continue Reading

Home Mortgage Borrowing Up in January

Home mortgage borrowing up 20% in Andalucia

January saw a 6.1% increase in the number of new home mortgages. The average amount, however, fell by 5% to 114,691 euros, according to data released by the INE. On all property types, the average amount also fell, with an average of 129,387 euros, 12.2% lower than the same month in 2019. The total amount Continue Reading

Cost of Renting Continues to Rise

Ibiza Town has seen rental costs spiral up 93% in five years

In the last five years, the price of rental housing in Spain has increased by 50%, according to analysis by Fotocasa. It has long been subject for debate for the government when considering price caps for rental property, a tactic which few other countries have dared to try. But with the costs involved in buying Continue Reading

Home Sales Up in Andalusia in January

The Canary Islands saw a massive 60% increase in sales

In January, there was 184,699 property transfers registered in the property registers. This is 7.7% lower than in the same month of the previous year. As for sales of homes, there was a 2.6% drop compared to January 2019. 86.6% of property sales registered in January correspond to urban properties and 13.4% to rustic properties. Continue Reading