A yearly growth rate of 23% for Spanish property transactions

The”Instituto Nacional de Estadistica” just released the last number of transactions for the month of May 2017: 44 782 properties were sold. Compared to May 2016, it is an annual increase of 23%. This is by far the strongest month for the last year.

Of those 44 782 properties, 7 733 are newly-built homes.

Since January 2017, 166 093 properties were bought, i.e. a growth of 10% against 2016.

The three regions with the biggest growth rate in 2017 are:

• Madrid with a growth rate of 25.8%
• Asturias with a growth rate of 19%
• and Extremadura with a growth rate of 16.7%

The regions with a negative growth rate in 2017 are:

• Basque Country
• La Rioja
• Navarre
• Region of Murcia
• Castile and Leon

On a monthly basis: all the regions benefit from positive growth rate apart from Murcia and La Rioja.

The four biggest regions are: Andalusia, Catalonia, Madrid and the Valencian Community

1. Andalusia with 27 480 transactions and a yearly change of +11%
2. Catalonia with 24 869 transactions and a yearly change of +14%
3. The Valencian Community with 22 588 transactions and a yearly change of 11%
4. Madrid with 18 022 transactions and a yearly change of 26%

Together those 4 regions represent about 60% of the transactions!!!

With no surprises, the four biggest regions in term of transactions are Andalusia, Catalonia, Madrid and the Valencian Community. Andalusia and Catalonia represent 16.5% and 15% of the transactions. Madrid represents 11% and the Valencian Community represents 13.5% of the transactions. It is interesting to compare this with our infographics on where the foreigners are buying real estate in Spain, you will find that Andalusia is the second biggest area for foreigners while the Valencian Community is the biggest region and Catalonia is the third.

Foreigners are active as well with 14% of the transactions during the last twelve months up to March 2017. Have a look at the transaction history in Spain for both Spaniards and Foreigners:

History of Real estate transactions in Spain, Spaniards and Foreigners

Yearly data. Source: Ministerio de Fomento

Check our full report on Why should you buy a property in Spain in 2017?

Source: Instituto Nacional de Estadistica

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post 23% more Spanish property transactions in May 2017 appeared first on How to buy in Spain.

The Ministry of development has released its Statistic of the residential real estate prices in Spain.

The average price per m² stood at 1,526 euros in the first quarter of 2017.

• An increase of 2.2% year-on-year and 0.9% on a quarterly basis
• It is the eighth consecutive quarter with annual growth of prices after 26 quarters of year-on-year drop in housing prices,
• The number of property transactions increased 6.5% in Annual terms
• After inflation, the housing price experienced a small drop of -0.5%,

Evolution by Autonomous Communities

• 11 of them presented a Year-on-year growth: with Catalonia standing out (5.4%), Madrid (4.9%), Ceuta and Melilla (4.2%), Canary Islands (3.9%), Cantabria (3.0%) and Navarre (2.6%).
• 7 communities still showed Year-on-year decreases: the most notable being Extremadura (-2.3%), Asturias (-1.7%), Aragon (-1.5%) and Murcia (-1.5%).

Have a look at our interactive map of real estate price evolution over the last year for all the Spanish Autonomous Communities at the top of our home page.

Evolution since highs of 2008

According to the historical series of this statistic, the average value per m² In the first quarter of 2017 was 27.4% lower than that of the level reached in the first quarter of 2008. In real terms (taking into account the Variation of the CPI), the current price reflects a fall of 32.7%. Since the third quarter of 2014, the price has recovered 4.8%.

Evolution of prices by age of the properties

The average value of the square meter less than five years old properties stood at 1,781.2 euros in the first quarter of 2017. This represents a year-on-year growth of 3.1%.

With regard to properties of more than five-year-old, the price reached 1,517.6 euros per square meter, a rise of 2.1% year-on-year.

Evolution of prices by cities

For municipalities with more than 25,000 inhabitants, the highest prices of private housing were presented at

• San Sebastian, 3286.0 euros / m²,
• Sant Cugat del Valles, 2875.8 euros / m²,
• Barcelona, 2851.5 euros / m²,
• Getxo, 2762.6 euros / m²,
• Santa Eulalia del Rio, 2747.3 euros / m²,
• Ibiza, 2713.5 euros / m²,
• Pozuelo de Alarcón, 2659.1 euros / m²
• Madrid, 0 euros / m².

The lowest prices in municipalities with more than 25,000 inhabitants are recorded in

• Elda, 520.0 euros / m²,
• Jumilla, 575.2 euros / m²,
• Ontinyent,581.1 euros / m²,
• Novelda, 585.8 euros / m²,
• Villarrobledo, 593.4 Euro / m²
• Alcoy, 608.5 euros / m².

The number of real estate transactions used to perform the calculation of housing prices in the first quarter of 2017 was 117,339, which is 6.5% more than in the same quarter of last year.

If you want to keep an eye on the trends of the real estate market in Spain:

• Have a look at our table of the Spanish Real estate prices and transactions from our Trend section.
• Have a look at our table of the Spanish Real estate prices per region from our Trend section.

Do you want to know 10+ reasons why you should buy in Spain? Read our full paper.

Do you want to have a more precise view on real estate price evolutions in Spain? Check our trend section.

Are you serious about Spain? Read our 8 legal steps to your Spanish property.

Source: Ministerio de Fomento

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post Spanish property prices up 4,8% since the bottom of Q4 2014. Still down 27.4% since 2008 appeared first on How to buy in Spain.

Spanish Government will help young people for buying real estate from 2018

The Minister of Development, Íñigo de la Serna, has announced a new aid package for young people under 35 years who want to access a home starting 2018.

Here are the details on the project pending approval:

1. For both purchasing or renting a home
2. For people under 35 years
3. Starting in 2018
4. An aid of up to 10,800 euros.

Among the conditions:

1. The aid must not exceed 20% of the total price of the apartment
2. an annual salary that does not exceed 22,365.42 euros a year
3. not already the owner of a house
4. if rental, the aid will cover maximum 40% of the monthly rent (which should be of 900 euros maximum per month)
5. a maximum aid of 2400 euros per year per household

This aid to buy or rent a house for young people would be available in all the Autonomous Communities of Spain, as it is a Housing Plan sponsored by the Ministry of Development. Thus, it should be available in Andalusia, Aragon, Asturias, Cantabria, Castilla la Mancha, Castile and Leon, Catalonia, Ceuta, Extremadura, Galicia, Balearic Islands, Canary Islands, La Rioja, Madrid, Melilla, Murcia, Navarre, Basque Country And Comunidad Valenciana.

Find the official press release here.

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