INE: 16-Month ‘Rising House Sales’ Streak Comes To An End

9 March 2016 – Cinco Días

32,417 homes were sold in January 2016, which represented a 2.9% decrease with respect to January 2015, marking the end of a 16-month streak of consecutive house sale increases, driven by the booming second-hand housing segment.

This fall comes after the number of transactions in 2015 increased by 11.1% to 354,132 operations, when this economic indicator recorded two consecutive years of increases.

Compared with a month earlier, house sales recorded a 17.3% increase, according to statistics about the transfer of property rights, published yesterday by the National Institute for Statistics (INE).

Despite this decrease, the number of house sales is at its highest level since July 2015.

80.5% of all house sales registered in January involved second-hand homes, with 26,083 operations recorded in total, representing a YoY increase of 6.6% (23 months of increases). By contrast, the sale of new homes fell by 28.9%, to 6,334 operations and accumulated 21 consecutive months of decreases.

According to the same source, 89.7% of the homes sold in January were free (unsubsidised) with 29,093 homes sold in that category, representing a 2% decrease with respect to the same month in 2015. The sale of social housing (subsidised) homes dropped by 9.9%, to 3,324 transactions.

By autonomous region, nine regions recorded negative YoY variations in the number of house sales, with the most pronounced decreases being seen in La Rioja, with a drop of 25.3% and the Canary Islands, with a reduction of 16.2%.

Navarra, with a rise of 18.4%; Castilla La Mancha, with an increase of 17.9%; and Aragón with a rise of 8.9%, led the other end of the table.

In January, the total number of properties sold according to the property registers and based on public deeds amounted to 136,771, down by 2.8% compared with a year ago.

66,959 properties were sold, down by 4.1%; exchanges decreased by 14.9% (to 526); donations dropped by 12.3% (4,148); meanwhile inheritances rose by 3.8% (30,010).

On the other hand, land consolidations, horizontal divisions, joint and mixed operations of several transfer deeds, transfers without the acquisition right, daciones en pago, mortgages foreclosures and legal repossessions fell by 4.2% to 35,128 operations.

According to INE’s data, in January, the total number of properties sold according to the property registers per 100,000 inhabitants was highest in Valencia (113) and the Balearic Islands (108).

Original story: Cinco Días

Translation: Carmel Drake

Ministry Of Development: House Prices Rise In 7 CCAA In Q1 2015

2 June 2015 – Cinco Días

The Canary Islands, Aragón and Madrid lead the ranking in Q1 2015.

In real terms, the average national increase was 0.9%.

In Spain as a whole, the average price of unsubsidised housing amounted to €1,457.90/m2 at the end of Q1 2015. This represents a negative variation with respect to the previous quarter (-0.36%) and the previous year (-0.11%), according to data published on Monday by the Ministry of Development.

However, this decrease did not take place in every region. Positive variations were recorded in some regions with respect to the same period in 2014. House prices increased in 7 regions: Canary Islands (3.56%), Aragon (1.9%), Madrid (1.67%), Valencia (0.69%), Extremadura (0.57%), Balearic Islands (0.1%) and Andalucía (0.05%).

The other regions experienced YoY decreases: Asturias (-6.53%), Castilla y León (-3.72%), Navarra (-3.15%), Galicia (-2.29%), País Vasco (-1.47%) and Murcia, Ceuta and Melilla (-1.35%).

At the national level, and in real terms, the price of unsubsidised housing experienced a YoY increase for the second consecutive quarter, rising by 0.9%.

If we look at the historic series of the Ministry’s statistics, the average price per square metre has decreased by 30.4% since its peak in the first quarter of 2008. The decrease has been even greater in real terms: 36.3%.

The five regions in which prices have decreased the most are: Aragón (-38.47%), Murcia (-38.28%), Castilla – La Mancha (-38.25%), Valencia (33.89%) and Cataluña (33.56%). At the other extreme (where prices have decreased the least) are the autonomous cities of Melilla (-5.19%) and Ceuta (-8.63%), followed by Extremadura (-16.75%), País Vasco (-20.52%) and the Balearic Islands (-22.74%).

In towns with more than 25,000 inhabitants, the highest prices per square metre are located in four regions. The two most expensive municipalities are in País Vasco, with San Sebastián leading the ranking (€2,996/m2), followed by Getxo (€2,663/m2). In third place is the Madrid suburb of Pozuelo de Alarcón (€2,489/m2). Calvía (€2,438/m2) in the Balearic Islands occupies fourth place and Sant Cugat del Valles (€2,433) in Cataluña is in fifth place. The cities of Madrid and Barcelona occupy sixth and seventh places (€2,411/m2 and €2,397/m2, respectively).

The cheapest places include Elda (€591/m2); Almendralejo (€592/m2); Tomelloso (€610/m2); Ontinyent (€611/m2); Jumilla (€620/m2); Novelda (€628/m2) and Credvillent (€632/m2).

Finally, the average price of subsidised social housing in Spain during Q1 2015 was €1,095.40/m2, i.e. 0.41% lower than during Q4 2014, whilst the variation with respect to the same quarter in 2014 was a decrease of -0.68%.

Original story: Cinco Días (by Amanda Andrades)

Translation: Carmel Drake