Tag: average size

ST: Costa Del Sol Accounts For Most New Homes On Mediterranean Coast

25 May 2017 – El Economista

The Costa del Sol is the stretch of the Mediterranean coast where the largest number of new homes for sale can be found, according to a report prepared by ST Sociedad de Tasación, which analyses a total of 67 towns along the coasts of Girona, Tarragona, Alicante, Murcia and Málaga.

ST has analysed 456 new housing developments in total and has identified 5,594 units for sale, along the five coasts analysed. According to the study, the average price of these homes amounts to €210,760.

In fact, the study shows that the coasts that are located towards the South of Spain have the most homes up for sale, compared with the coasts located towards the North, and it reveals that the Málagan coast has a total of 2,482 new homes on the market.

Specifically, the report highlights that along the Costa Brava, Dorada, Blanca, Cálida and del Sol, there are 5,594 new housing units in total, however, they are not distributed in a homogeneous way along these coastlines. In addition to the homes in Málaga, the other dwellings are located in Alicante (2,100 homes), Tarragona (378 homes), Murcia (345 homes) and Girona (279 homes).

ST also said that the supply is unequal within these coastal regions and that Murcia and Málaga are the areas where the available housing supply is distributed in the most balanced way.

The pending supply for sale does not exceed 70% of the properties developed, although that percentage is higher in Altafulla, Cambrils and Cunil, all towns in Tarragona. Along the coasts of Girona and Alicante, only two towns in each one, Blanes and Finestrat, have a volume of supply that is similar to these towns.

The study reflects that there are four coasts with an average house price of between €150,000 and €200,000, whilst in the case of the Costa del Sol, that figure soars to €353,000.

Although on the Costa Dorada and the Costa Cálida, there is not a single dwelling being sold for €500,000, on the Costa del Sol, 287 homes are on the market for that price, accounting for 12% of the total. Moreover, that figure decreases to 4% in the case of the Costa Blanca and 2% on the Costa Brava.

The average surface area of the homes for sale is 112 m2. Nevertheless, the homes on the Costa del Sol exceed that average (145 m2). Meanwhile, the towns on the Costa Brava (100 m2) offer the smallest homes in general, followed by those on the Costa Blanca (102 m2) and the Costa Brava (103 m2).

In terms of the type of home, only 60% of the dwellings on each coast are family homes and almost none of the properties are studios (i.e. few have no bedrooms), given that most homes typically have one or two bedrooms.

Taking into consideration the construction status of the homes, ST has recorded that the majority (60%) of the properties up for sale have already been completed, more than 25% are still under construction and 10% have not been started yet.

Original story: El Economista

Translation: Carmel Drake

Ministry Of Development: Housing Permits Rise By 37%

30 September 2016 – Expansión

The number of housing permits granted by the college of technical architects soared by 37% during the first seven months of the year, to reach 39,497, the best figure between January and July since 2011, according to the latest data from the Ministry of Development.

Despite the increase, residential construction permits are still a long way from the highs recorded in 2007, when at the height of the boom, 448,991 permits were granted between January and July, i.e. 91% more than have been issued so far this year.

The number of housing permits started the year (2016) with an increase of 44% to 4,943. In February, the YoY increase was 35%, as 5,663 permits were granted, whilst in March the figure doubled to 6,176. In April, the increase was more moderate, up by 6.5% to 4,795 permits and in May the number soared by 79% to 7,985. In June, the figure rose by just 0.6% and in July, double-digit growth returned with an increase of 21%.

The total number of permits granted for new builds, renovations and extensions during the seven months to July was 56,407, which represents an increase of 24.6% with respect to 2015.

By property type, the number of permits granted to construct block housing rose by 45.5%, to 29,362 licences, whilst the number granted for family homes grew by 17% to 10,129.

In terms of surface area, the average size of family homes amounted to 200 sqm, whilst the average size of apartments in block housing stood at 117 sqm.

Since the Ministry of Development began to prepare these statistics in 1991, the number of permits reached their historical monthly minimum in August 2013, when just 1,585 permits were granted. The historical monthly maximum was recorded in September 2006, when 126,753 permits were granted.

Original story: Expansión

Translation: Carmel Drake