6/05/2014 – 20 Minutos
Andalusian real estate market seems to revive. Throughout 2013, 329.146 houses were sold in entire Spain, by 0.48% less than in 2012. However, the southern region showed positive numbers.
According to the Property Registry Statistics drawn by Spain´s Association of Registrars, Andalusia sealed 66.841 transactions in 2013, by 3.28% more than a year before.
On the other end of the ranking there was the Extremadura region with a 16.58% decline.
Pre-owned houses played crucial role in the increase. They marked 12.01% units more than in 2012, taking position of the fourth biggest rise in Spain and climbing 5.9 bps above the national average.
Whereas new construction home sales shrank by 4.03% in the eight Andalusian provinces, still performing better than the rest of the country with a mean fall of 7.81%.
Moreover, Andalusia registered the highest number of transactions compared to inhabitants number. For each one thousand citizens, Spanish average showed 7.06, while Andalusian mean post 7.98.
Provinces. Malaga ranked the fourth in Spain in property purchase, while Seville the sixth. Almeria won in new housing sales with 8.43 units per each 1.000 inhabitants. In turn, Malaga performed best in used houses sales with 6.47 unit/1.000 residents.
Foreigners. This group conducted 12.35% of all transactions registered in Andalusia.
Floor area. The most desired homes in the aforementioned region have got more than 80 square meters (58.08% of the total).
Mortgages. Last year the new mortgage amount granted for each square meter reached €908 (the country´s average = 1.095 €/sqm). An average loan was of €85.241, by €15.600 less than in the rest of Spain. On average, Andalusian reisdents need 238 months (a little bit more than 19 years) to pay their mortgage, by 11 months less than in the entirety of Spain.
Original article: 20 Minutos (by Javier Luque)
Translation: AURA REE