Tag: second-hand

Tinsa: House Prices Rose by 3.6% in January

6 February 2018 – El País

House prices rose again in January, in both the new build and second-hand segments. Overall, prices increased by 3.6% with respect to the same month in 2017, according to the appraisal company Tinsa. But the average increase across the country was well below the figures seen in the capitals and large cities as well as in the Balearic and Canary Islands, which recorded the highest price rises of the last 12 months in January, with increases of 5.1% and 4.1%, respectively. In metropolitan areas, the rise amounted to 3.2%, whilst along the Mediterranean Coast, house prices increased by 3%. In small towns, the increase amounted to just 0.9%.

Although average prices in Spain have recovered by 7.6% from the minimum levels reached during the crisis, they are still 38.3% below their maximums of 2007. In fact, the values registered in January place the price of finished homes at June 2013 levels. With respect to the historical maximums, the evolution of the residential market is still slow, in particular along the Mediterranean Coast, where prices are still 47% below their peaks.

The cumulative decrease in metropolitan areas as well as in capitals and large cities is also still above the average, at 43.3% and 39.7%, respectively. The Balearic and Canary Islands are the regions that have performed the best since the crisis, recording a cumulative decrease of 24.1% over the last 10 years, followed by small Spanish towns, with a cumulative decrease of 36.2%.

Original story: El País

Translation: Carmel Drake

Notaries: 48,695 Homes Were Sold In March, Up By 19.5% YoY

23 May 2017 – Aquimicasa.net

According to the notaries, March was a great month for the real estate sector. Despite the scare in February, sales of flats and houses rose by 19.5% in March, to reach 48,695 operations. But, since it can’t be all good news, it is worth noting the statistics published by the General Council of Notaries last Monday, which reveal that the average price of operations decreased by 1.3%.

Our analysis of the data published by the notaries shows that by type of home, flat sales recorded a YoY rise of 20.5% and sales of private (unsubsidised) properties rose by 21.9%. But, as has been happening for years, this increase in the number of private flat transactions was due, exclusively, to an increase in sales of second-hand flats, which rose by 26%, given that sales of new build homes continued their downwards trend, decreasing by 11.5%. Meanwhile, sales of houses and chalets saw a YoY increase of 15.6%.

If we look at the prices achieved, we see that the average price per square metre of the homes purchased in March stood at €1,277, which represents a decrease of 1.3% with respect to the same month last year. According to the notaries’ statistics, the decrease in the price per square metre of homes is due to a reduction in the price per square metre of houses and chalets (-6.2%), given that the price of flats did not vary in March.

Meanwhile, there was a slight increase in the average price per square metre of private (unsubsidised) flats, which rose by 0.3%, split between an increase of 0.8% in the price of second-hand flats and a decrease of -0.6% in the price of new build homes.

The sale of other types of properties saw 11,753 operations closed, which represents an increase of 15.2% compared to the same month last year. 39.7% of those transactions corresponded to plots of land. And despite the rumours of an increase in the price of land, that trend must be happening in specific areas only, given that the average price per square metre amounted to €155, representing a decrease of 10.4% YoY.

Finally, if we look at mortgages, during the month of March, they experienced YoY growth of 5.1%, to reach 32,070 operations, for an average amount of €156,229, in other words, a decrease of 3.4%. Meanwhile, mortgage loans granted for the acquisition of a property increased by 16.8% YoY, to a total of 23,542 contracts. Other mortgages included those used to build a home or to finance business activities.

Original story: Aquimicasa.net

Translation: Carmel Drake

BBVA Puts 2,900 Homes Up For Sale With Discounts Of <50%

20 January 2017 – Expansión

BBVA’s real estate unit, Anida, has launched a new campaign in which it is offering discounts of up to 50% on a selection of homes spread across the country.

The campaign, which has been baptised “Nuestras casa se van de rebajas”, will run until 28 February and includes 2,287 flats and 584 houses, both second-hand and new developments. All of the information about the development can be found on Anida’s website.

Most of the homes are located in Cataluña, the Community of Valencia, Murcia, Andalucía, Castilla-La Mancha and Madrid. BBVA is also offering its clients financing of up to 100% of the purchase value, provided that figure does not exceed 100% of the appraisal value.

Original story: Expansión

Translation: Carmel Drake

Notaries: House Sales Rose By 26.6% YoY In January

16 March 2016 – Expansión

House sales shot up by 27.7% during the first month of 2016.

The number of house sales recorded an increase of 26.6% in January compared with the same month in 2015, with 27,568 operations, although that variation moves up to 28% if we consider the series corrected for seasonal effects, according to statistics prepared by the General Council of Notaries.

The annual increase in the number of sales was driven by an expansion in the sale of apartments (+27.7%), the increase in the sale of single-family homes (+22.6%) and the sale of other properties (+22% YoY).

In the case of apartments, the sale of unsubsidised homes experienced a 28.2% increase with respect to January 2015. Within this segment, the sale of second-hand flats rose by 32.8%, which contrasted with the 3.8% decrease experienced by the sale of new apartments.

In terms of average prices, the price per square metre of the homes purchased in January amounted to €1,303/m2, which reflects a YoY increase of 2%, due both to the increase in the price per square metre of apartments (+1.5%), as well as the rise in the price of single-family homes (+4.5%). In terms of flats, the price per square metre of second-hand properties amounted to €1,405/m2 (+2.1%) compared with €1,732/m2 (+1.2%) for new homes.

Meanwhile, there were 6,590 operations involving other properties during the first month of the year, which represents a YoY increase of 22%. Of those operations, 38.6% related to plots of land. The average price per square metre of those transactions amounted to €243/2 (up by +34.6% YoY).

In light of this data, the General Council of Notaries believes that the Spanish real estate market is continuing its recovery, which is also being reflected in the evolution of the mortgage market for the acquisition of homes. (…).

Original story: Expansión

Translation: Carmel Drake

Notaries: House Sales Rose By 7.3% In September

17 November 2015 – Cinco Días

House sales rose by 7.3% in September with respect to the same month in 2014, according to data published yesterday by the General Council of Notaries, which has been corrected for seasonal variations. The uncorrected data reflected an even greater increase, of 8.7% YoY.

This information also reveals that the price of these transactions per m2 rose by 1.7%. Despite the fluctuations in the monthly figures, the notaries argue that the series reflects a recovery in house sales although the volume is still a long way below the figures seen before the crisis.

By type of home, transactions involving flats increased by 7.1% in September. This increase was primarily due to sales of second-hand homes, which rose by 13% YoY. Meanwhile, sales of new homes experienced a 19.7% YoY decrease.

On the other hand, sales of single-family homes increased significantly, by 14.7%.

In terms of prices, the average price per m2 amounted to €1,242/m2, representing an increase of 1.7%. This was driven by an increase in the price/m2 of flats (by 2.7% YoY) as well as in the price of single-family homes (by 2.3% YoY).

In the case of flats, the price per m2 of second hand homes rose by 2% to €1,359/m2, whilst the price of new homes increased by 13.6% to €1,632/m2.

In addition, there were 7,394 sales involving other types of property, up by 11.8%, of which 42.6% related to land and plots. The price of these transactions amounted to €201/m2, representing a decrease of 5.7% in YoY terms.

The statistics also reveal a 17.4% increase in the number of mortgage loans granted for the acquisition of properties in August, in line with the rise in the number of transactions, to 12,048.

In that month, the (average) size of mortgage loans remained constant at €122,993.

In terms of the constitution of new companies, there was a decrease of 4.4% in September to 7,062.

The average capital of these companies also decreased, by 14.4%, to reach €15,218.

Original story: Cinco Días

Translation: Carmel Drake