Habitat Acquires Plot of Land for Housing Development in Girona

15 July 2019

Habitat Inmobiliaria acquired a plot of land with 3,700 square meters of surface area and 10,350 square meters of buildable area in the Eixample Sud-Migdia neighbourhood, in Girona. The company will invest a total of 23 million euros to develop 90 homes.

The acquisition is a part of the firm’s plans to deliver more than 2,000 new home per year from 2021.

Original Story: EjePrime

Adaptation/Translation: Richard D. K. Turner

The Price of New Housing Rose 12.7%


15 August 2017

New construction is starting to reappear. The price of new free-market housing recently increased by 12.7% in the twelve months to June, according to data released yesterday by the General Council of Notaries. While the average price per square meter was 1,816 euros in June 2016, in the same month this year the price was up to €2,047. The average cost per square meter of second-use homes stood at 1,478 euros, 0.8% more year-on-year. This caused the increase in the combined index of free-market residential properties to be limited to 1.9%.

In terms of average costs, the square meter of homes purchased in June cost 1,358 euros, according to the report, reflecting an increase of 1.4% year-on-year. This increase in the cost per square meter of housing is due exclusively to the increase in the price per square meter of flats, as the square meter of single-family homes fell by 0.1% year-on-year.

The purchase and sale of housing stood at 51,477 transactions in June, representing a year-on-year increase of 17.4% (16.8% in the seasonally adjusted series).

The sale of flats showed a year-on-year increase of 18.1% (17.1% in the seasonally adjusted series), due both to the expansion of sales of second-use flats (19%) and an increase in the sale of new flats (10.8% year-on-year). The sale of single-family homes showed a 14.8% year-on-year increase.

Finally, in June, there were 12,176 transactions of other types of real estate, an increase of 21.4% year-on-year, of which 41.2% corresponded to land or plots of land. The average price per square meter of these transactions stood at 207 euros (13.6% year-on-year).

Mortgage loans for the purchase of real estate increased by 12.2% year-on-year to June (25,016 mortgages). The General Council of Notaries explained that the total increase in mortgages can be divided into an increase in loans granted for the purchase of a home (12.9% year-on-year) and the increase in mortgages for the acquisition of other types of real estate (3.4% year-on-year).

The size of the average mortgage granted for the acquisition of real estate, in June, reached 135,234 euros, a decrease of 6.9% compared to the same period of 2016.

Creation of new companies

On the other hand, there were 8,720 new companies incorporated in June, a year-on-year decrease of 18% (-18.8% in the seasonally adjusted series).

The average share capital of companies incorporated in June stood at 18,837 euros, which represents a year-on-year increase of 15.6%, according to statistics from the General Council of Notaries.

Original Story: Expansión Pro-OrbytJ. M. Lamet

Translation: Richard Turner

Madrid Expects To Sell Out Its Stock Of New Housing In 10 Months And Predicts A Rise In Prices

9 February 2016 – ABC

The capital has given out 82.5% of its offer in two years and there are only 1,710 new units put up for sale.

In Madrid capital there are only 448 new homes left for sale out of the 2.558 units registered in the list drafted in 2014 by “Sociedad de Tasación” (Valuation Company). A figure which has warned the property sector on the stock pace of the absortion, which implies that 82% of this offering has been sold. In addition, in the capital 1,710 new units put up for sale in the last two years remain for sale. The generic balance is 2,158 homes. All of this brings a stock net reduction in Madrid capital of 15,6%.

This comes from the report released from this valuation company, which reflects that this current extends to the municipalities of the Community of Madrid with more than 50,000 inhabitants. Thus, the CEO of “Sociedad de Tasación”, Juan Fernández-Aceytuno, warns that the supply of new housing in the region could be sold out in 10 months. “In the case of Madrid capital it would be 9 months.” A situation that would lead to a “price spike scenario,” according to study “List of New Housing in Madrid and Madrid Capital 2016″ prepared by the valuation company.

Out of the 8,898 new housing units on sale in 2014, there are currently 1,911, representing a stock reduction of 78.5 percent in two years. To this remnant, the 3,563 new units in stock which have been detected from 2014 to now are added, resulting in a current balance of 5,474 homes and a net reduction of 38.5 percent over the 2014 List.

“In this context, if new units are not put up for sale, we could find ourselves in a scenario of price spike in this segment of the market, since there is not sufficient supply to meet demand», Fernández-Aceytuno says.

Original story: ABC (by Adrián Delgado)

Translation: Aura Ree

Housing: BBVA Notes “Significant” Recovery In Construction

2 November 2015 – El Economista

BBVA Research, the financial institution’s research service, says that the evolution of the number of new building permits granted for residential use shows a significant recovery in construction activity. That was the bank’s conclusion following its analysis of the latest data published by the Ministry of Development regarding new building permits, which increased by 27.9% between January and August, compared with the same period in 2014.

BBVA says that although it is virtually certain that 2015 will end with a recovery in the number of building permits granted for the construction of new homes, data from the labour market reflect an easing of new workers in the construction sector.

Specifically, it notes that whilst the second quarter closed with a 1.2% increase in the number of new workers, that figure remained stable in Q3. For this reason, it considers that the rate of growth of building permits may ease off during the latter part of the year.

Original story: El Economista

Translation: Carmel Drake

Tinsa: House Prices Fall In May 2015 By 3.6% YoY

5 June 2015 – Expansión

According to Tinsa’s IMIE General and Large Markets Index, the average price of new and used housing decreased by 3.6% during the year to May 2015.

Specifically, the index stood at 1,322 points. Tinsa has explained that “the intense downwards variation experienced by the index from June 2014 onwards explains the significant inter-annual differences, even through average prices have remained relatively stable since November”.

Moreover, according to this index, the average house prices in Spain have accumulated a decrease of 42.7% since the peaks of 2007.

Prices by regions

The report also highlights that the average house price in Spain was 1.6% cheaper in May than at the end of 2014; a similar trend has been on the islands (the “Balearic and Canary Islands”), where the cumulative fall with respect to December 2014 amounts to 1.5%.

Towns on the “Mediterranean Coast” are the only ones that closed the first five months of the year with positive growth (+1.4%), although there, average prices in May 2015 were still 2.3% below those recorded in May 2014.

The “Capitals and large cities” recorded the worst performance of all of the areas analysed in May, with a 4.9% YoY decrease. In terms of the intensity of the decrease with respect to the same period last year, they are followed by the “Metropolitan Areas”, with a 3.8% drop and smaller towns, grouped together within the category “Other municipalities”, where average prices were 2.7% lower than in May 2014.

It is important to remember that Tinsa’s IMIE index is compiled using appraisal (values) for finished homes (new and used) prepared by the company. This means that it reflects prices assigned by the appraiser, on which market prices are based, versus other indices, such as the one prepared by the Registrars, which is based on the prices the feature in the deeds signed before Notaries.

Original story: Expansión

Translation: Carmel Drake