Tag: National Statistics Institute

Madrileños Are Willing To Invest More In Homes

14 July 2016 – Expansión

The average amount that Madrileños are willing to pay to acquire a property in the Community of Madrid currently stands at €306,000, which represents an increase of 28%  compared to 2015, according a study, ‘Demand for housing in Spain’, compiled by Casaktua, based on more than 1,100 interviews.

The study also found that the average price Madrileños are willing to pay to rent a property is €584/month, which represents a 10% increase compared to last year, when the figure amounted to €532/month.

According to the document, “(On average), Madrileños have saved 37% of the cost of the property they want to buy, showing that few expect to be able to obtain financing for 100% of their properties when it comes to buying a home”. Nationally, average savings amount to 35%.

On the other hand, the study reveals that “the average budget that Madrileños allocate to the purchase or rental of a home has increased by 19% in the last twelve months, above the average (increase) for Spain as a whole (12%).

In addition, “the number of Madrileños (renters and owners) who are thinking about moving home in the short and medium term, has increased by three percentage points in the last year (from 48% to 51%)” says the report.

On the other hand, “73% of the residents of the Community of Madrid who want to move home started looking less than two and a half years ago” and the main reasons Spaniards wish to move home are “the number of bedrooms in the home and the area in which it is located”.

Meanwhile, the Consumer Price Index (CPI) in the Community of Madrid increased by 0.5% in June with respect to the previous month, whereas prices decreased by -0.8% compared with the same period last year, according to data published on Wednesday by the National Statistics Institute (INE).

At the national level, CPI rose by 0.5% in June with respect to the previous month and increased its YoY growth rate by two tenths to -0.8%, as the price of electricity, petrol and organised trips all rose. In this way, CPI recorded two consecutive months of YoY increases.

Original story: Expansión (by Roberto Bécares)

Translation: Carmel Drake

The Sale Of Homes Soars By 11.1% In 2015 On The Second-Hand Market

10 February 2016 – El Economista (Europa Press)

Second-hand home transactions increase by 37.2% in the year, reaching their highest level since 2007.

Home sales increased by 11.1% in 2015 with respect to the previous year, up to a total of 354,132 transactions, its highest level since 2011, the National Statistics Institute (INE) reported last Wednesday.

The second-hand market has been the driving force behind this annual growth, the second one produced after the home sales increase by 2% in 2014.

In the period of crisis, the worst year for housing transactions were 2009 and 2008, in which these transactions plummeted by 25.1% and 28.8%, respectively. In 2012 and 2011, double-digit declines were still taking place (-11.5% and -18.1%), while in 2013 the decline slowed to 1.9% due to the end of tax benefits for housing purchase.

Home sales hit the accelerator in 2015 in a context of low prices, although experts believe that the correction reached its lowest level last year and will moderately rise.

The recovery in home sales in 2015 was due to the growth experienced in second-hand home transactions, which rocketed by 37.2%, reaching 276,300 transactions, the highest figure since 2007. By contrast, transactions on new homes fell 33.7% last year, reaching just 77,865, the lowest volume of the series.

89.8% of homes transferred by merchanting last year were non-subsidized and 10.2% were subsidized. In total, the sale of non-subsidized homes increased by 11.1% in 2015, while subsidized home transactions increased by 10.8% reaching 36,077 transactions, after several years of decline.

Andalucía, ahead of housing sales

In 2015, the highest number of home sales per 100,000 inhabitants took place in Valencia (1,322) and the Balearic Islands (1,177).

Andalusia was the region performing the highest number of transactions during last year reaching 70,739, followed by Catalonia (54,571), Region of Valencia (51,788) and Madrid (50,373).

The regions that performed a lower number of sales were La Rioja (2,561), Castilla y León (4,298 transactions) and Navarra (4,313).

In relative values, home sales rose in all regions in 2015, except for Navarra, where they decreased by 1.7%. The regions where these transactions increased the most were the Basque Country (+ 17.2%) and Aragón (+ 16.6%).

Total properties transferred in 2015 increase by 4.6%

Adding the urban and rural properties (homes and other urban nature properties), the properties transferred in 2015 reached 1,634,670, an increase of 4.6% over the previous year, thus returning to positive figures after having fallen by 4.5% in 2014.

Properties transferred by merchanting increased by 8.1% with respect to 2014, while donations increased by 2%, exchange transactions fell by 9.2%, and those transmitted by inheritance advanced by 6.6%.

According to the INE, the number of rural property sales increased by 6.5% in 2015, reaching a total of 126,470 transactions, thus adding its fifth consecutive year of increase, while urban property sales increased by 8.4%, reaching 627,128 transactions.

In the last month of 2015, home sales increased by 6.8% with reference to December 2014, reaching 27,625 transactions and lowering by nearly seven points the 13.7% year-on-year increase registered in November. With the rise in December, home sales accumulates 16 consecutive months of year-on-year increases.

In month-on-month rates (December 2015 compared to November of the same year), home sales fell by 3.9%, compared with increases of 1.6% and 2.4% recorded in December 2013 and 2014, respectively.

Original story: El Economista (Europa Press)

Translation: Aura Ree