The 10 vital signs of the housing market in Spain

03:47 PM · Comments Off · Categories: Marbella apartments, News from Marbella Costa del Sol · Tags: housing, market, signs, spain

The sale of homes, the price, the stock of unsold homes and the rental market are among the ten leading indicators of the residential property market. The latest report from the Institute of Business Practice ( IPE ) notes that six of them continue to worsen while four of them have improved, so in his view the construction of homes has already bottomed out and the stock of homes is starting to shrink.

The stock of unsold homes in Spain has been reduced in 2013

– Real estate transactions : The sale of homes rose earlier this year due to the effect of the personal income tax relief in VAT and rising, ipe estimated that at the end of 2013 there will be another spike in this type of operation

– Housing prices : The value of homes continues to decline but at a slower pace. addition , the latest statistics from the ministry building pointed to a rise in the price of houses in four CCAA

– Mortgages: Loans for homeownership continues its pace of decline and improvement is glimpsed

– Construction of new work: Building houses stabilizes but these figures do not reach a sixth of what they were in the time of the boom. this figure is expected to end the year at 90,000 new homes

– Stock of unsold homes : The stock began to decline, albeit timidly in 2012. This year the decline has been substantial, in particular, it has gone from 872,697 to 777,000 homes

– Renting : The problem of unemployment has sunk the rate of families who choose to go into home ownership, and thus has increased the number of rental leases

– Collection : Real estate fund in 2006 was 43,200 million euros and now it is just over 9,300 million

– Financial effort of families : The percentage of annual income families must spend to pay the housing moves to 31.9 %, the lowest since March 2002

– Rehabilitation of buildings : There are no statistics that reflect the reality of this business given since visas are not required

– Foreign investment : According to figures from ipe, house sales by foreigners has increased by 17%

Article By Rughead

House Prices Will Close 2013 at Half of Pre-Crisis Levels

12:29 PM · Comments Off · Categories: News from Marbella Costa del Sol · Tags: buyers, decline, marbella property, market, price

The Spanish real estate appraisal company, Sociedad de Tasación, has estimated that the market value of housing in Spain will fall to 1,160 euros per square metre by the end of 2013, which will represent a cumulative decline of 51.7% since its historical maximum registered in 2007, of 2,401 euros per square metre, just before the economic crisis began.

According to the agency’s report, ‘Trends in the Real Estate Sector’, presented by the CEO of the company, Juan Fernández-Aceytuno, the price of housing has fallen by 15.7% in value year-on-year, to stand at 1,256 euros per square metre on average in September 2013.

Fernandez-Aceytuno forecast that home values will suffer another fall of 7.6% in the last quarter, which will bring the average price per square metre to 1,160 euros at the end of 2013.

The report noted that the price of new housing continues its downward trend and reached 2,212 euros per square metre at the end of September. They also predict that by the end of December the price of newly built housing will fall to 2,000 euros per square metre, which would mean a further drop in value of 9.5% from September to December.

The Sociedad de Tasación has also estimated that housing prices will continue their descent, indicated by the acceleration of the decline of recent years, since the year-on-year values compared with the third quarter of 2011, 2012 and 2013, registered declines of 10.5%, 13.2% and 15.7%, respectively.

Fernández-Aceytuno stated:”housing prices may continue to fall, but that does not mean that the activity is not recovering. In fact, I consider that activity in the housing market in Spain will recover before the price”.

Prices are down in what is now a buyers market

The study also shows that, between prices of dwellings classed as high quality or ‘prime’ and lower quality or sub-standard housing, there is more than 1,000 euros per square metre of difference. Year-on-year, high quality homes have decreased in value by 14.3%, while poor quality housing registered the largest decrease with a fall of 22.8%.

As reported by El Mundo, the Canary Islands and Valencia are the two regions with above-average declines in their housing market values, with declines of 16.5% and 18%, respectively, comparing year-on-year values for the third quarter.

Andalusia and Madrid came next, both with losses in value of 15.4%, followed by Castilla la Mancha (-15%), Aragon (-14.6%), Catalonia (-13.6%), Castilla León (-12%), Galicia (-11.6%), Navarra (-11.5%), La Rioja (-11.2%), the Balearic Islands (-10.4%), Murcia (-10.3%), Asturias (-9.4%), Extremadura (-9.2%), the Basque Country (-8.7%) and Cantabria (-4.9%).

Since registering their highest values before the crisis, Valencia, Catalonia, Castilla la Mancha and Madrid are the regions which have recorded the largest declines, with drops in the value of private housing of 51.2%, 50.5%, 46.5% and 46.3%, respectively.

Article source: Kyero.com