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Here you will find news, views, events and information relating to real-estate in Spain.

House Prices Up Almost 5% in May

admin | 8th June 2022 | Andalucía, Buying, Costa del Sol, Marbella, News, Prices, Property For Sale, Property Market, Spain, Statistics/Figures

Second-hand houses increased 4.86% in May

The average price of second-hand housing in Spain in the month of May 2022 was 1,923 euros per square meter. This figure represented a rise of 0.91% compared to April, when the price was 1,906 euros per square meter. The rise compared to May 2021 was 4.86%, since the average price of homes for sale in Spain a year ago stood at 1,834 euros per square meter.

As inflation continues to grow, house prices are continuing to increase in price too. “Although the price of second-hand real estate maintains a certain distance with respect to the CPI, access to property is just as complicated for the population, given that salaries have hardly improved“, said Ferran Font, director of studies at pisos.com. This gap between the income of the Spanish and the price of residential property hardens access to buying. Font also indicates that “the selling of the current home does not solve a problem because the cost increase to take the next step is now larger“.

This situation benefits, according to Font, other profiles: “After the return to normality, many decided to buy a better home than the one they had. This replenishment is running out, leaving investors alone.” In this sense, the spokesman for the real estate portal points out that transactions are going to moderate. “Uncertainty drives housing as a defensive asset in the face of loss of purchasing power, but if repositories disappear and those who buy for the first time must wait for more favourable economic conditions, we will see how sales in 2022 do not reach the figures for the previous year“.

38 Capitals Saw Prices Increase

The most expensive regions in May 2022 were the Balearic Islands (€3,376 p/m²), Madrid (€3,254 p/m²) and the Basque Country (€2,878 p/m²) and the cheapest were Extremadura (€806 p/m²), Castilla-La Mancha ( €839 p/m²) and Murcia (€1,107 p/m²). Year-on-year, the most striking increases occurred in Madrid (7.20%), Valencia (7.06%) and Murcia (6.42%). The only negative variations were seen in Asturias (-1.18%) and Extremadura (-0.87%).

In Andalucia, the average price per square metre reached €1,430.

The Balearic Islands was the most expensive province with €3,376 per square meter, followed by Madrid (€3,254 p/m²) and Guipúzcoa (€3,229 p/m²). On the opposite side was Ciudad Real, which closed the month on 644 euros per square meter. Other cheaper provinces were Jaén (€693 p/m²) and Cuenca (€720 p/m²). The largest increases from one year to another were located in Alicante (9.84%), Guadalajara (8.89%) and Lleida (8.51%). The most pronounced decreases were recorded by Palencia (-9.38%), Zamora (-2.62%) and Jaén (-2.47%).

The most expensive capital was Donostia-San Sebastián, with 5,742 euros per square meter. Behind were Barcelona (€4,450 p/m²) and Madrid (€4,338 p/m²). Jaén was the most affordable, with a price of 1,070 euros per square meter. Other cheap capitals were Ciudad Real (€1,093 p/m²) and Ávila (€1,141 p/m²). The most intense increases compared to May 2021 occurred in Alicante (15.14%), Palma de Mallorca (11.14%) and Murcia (9.68%). The ones that fell the most were Palencia (-11.06%), Huesca (-10.67%) and Pontevedra (-6.69%).

Homes Sales Up 25% in March

admin | 27th May 2022 | Andalucía, Buying, Costa del Sol, Investment, Marbella, News, Prices, Property For Sale, Property Market, Spain

Andalucía saw a 27.3% increase in home sales

The total number of transferred properties registered in the property registers (from public deeds) in the month of March is 227,773, which is 13.1% more than in the same month of 2021.

In the case of registered property sales, the number of transfers is 120,462, showing an annual increase of 20.9%. These figures further confirm the recovery of the market following the two years the country was in lockdown for the pandemic.

86.4% of the purchases registered in March correspond to urban properties and 13.6% to rustic properties. In the case of urban, 56.9% are home sales.

The number of sales of rustic properties increased 9.5% in the annual rate in March and that of urban properties 22.9%. Within the latter, home sales registered an annual increase of 25.6%.

The number of sales of new homes in Spain increased by 15.7% compared to March 2021 and that of used homes by 28.3%, according to data released by the INE.

Results by Autonomous Communities

In the month of March, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in La Rioja (966), Castilla y León (954) and Aragón (867).

The Balearic Islands (35.1%), Andalucía (27.3%) and Valencia (25.4%) registered the highest annual variation rates.

On the other hand, Cantabria (–11.0%), Comunidad Foral de Navarra (–8.3%) and La Rioja (–8.2%) presented the lowest annual rates.

In terms of registered home sales, the communities with the highest number of transfers per 100,000 inhabitants are Valencia (213), the Balearic Islands (197) and Andalucía (182).

The communities that presented the greatest annual increases in the number of home sales in March were the Balearic Islands (99.5%), Valencia (40.1%) and Andalucía (37.1%).

For its part, the smallest increases occurred in the Community of Madrid (4.5%), Cantabria (6.5%) and Galicia (10.0%).

Cost of Renting Up 5% Since Last April

admin | 16th May 2022 | Andalucía, Costa del Sol, Málaga, Marbella, News, Prices, Property Market, Rental Property, Renting

Average rental costs reached €10.17 in April

The monthly cost of rental housing in Spain had an average monthly price of 10.17 euros per square meter in April 2022. This figure marked a monthly rise of 0.30%. In the year-on-year comparison it increased by 5.18%.

According to Ferran Font, Director of Studies at piso.com, “The upward trend in monthly rental payments is in line with the prices of sales, so we see how inflation influences both markets, although not in a positive way. The cost of renting affects the finances of many families whose income has not yet recovered after the pandemic. It is essential that the supply of rental housing be expanded, because the more housing available, the more prices are moderated.”

Buy-to-rent continues to be a profitable alternative, even above other financial products. However, housing is a refuge value, but it is also the quintessential illiquid asset, a condition that must be considered before launching out to seek opportunities within this market. Regarding regulation by the Government, it is not fair to transfer the responsibility to the owners and make them lose purchasing power.

Barcelona and Zamora at heads and tails of the rental market

The most expensive regions to live for rent in April 2022 were Madrid (€12.78 p/m²), the Balearic Islands (€12.09 p/m²) and Catalonia (€11.56 p/m²). The cheapest rents were in Castilla y León (€4.70 p/m²), Extremadura (€5.25 p/m²) and Castilla-La Mancha (€5.46 p/m²). In April, the most significant increase was in Murcia (2.81%). The greatest negative variation occurred in Asturias (-1.94%). Compared to last year, the Balearic Islands (13.50%) was the one that increased the most and Asturias (-12.56%) the one that fell the most.

In the classification of provinces by cost of renting in Spain, in April 2022 the first position went to Madrid, with 12.78 euros per square meter. It was followed by Barcelona (€12.60 p/m²) and the Balearic Islands (€12.09 p/m²). On the opposite side, Cuenca closed the month with 3.22 euros per square meter. Other economic provinces were Ávila (€3.38 p/m²) and Ciudad Real (€3.65 p/m²). The province that made its rents more expensive in the last month was León (2.99%), while the one that made them cheaper was Zamora (-2.89%). From one year to another, the highest increase registered was that of Huelva (18.45%). The income that adjusted the most was that of Ourense (-19.42%).

Regarding provincial capitals, Barcelona was the most expensive for rental housing with an average price of 17.37 euros per square meter. It was followed by Donostia-San Sebastián (€15.96 p/m²) and Madrid (€15.80 p/m²). On the other hand, Zamora was the cheapest with 5.57 euros per square meter. Other economic provincial capitals were Ourense (€6.10 p/m²) and Ciudad Real (€6.23 p/m²). Cuenca (3.15%) led the monthly increases, while Huelva (-2.94%) was the capital that devalued the most in this period. Compared to April 2021, Lugo (19.82%) led the increases. The most striking cut was thrown by Ourense (-5.97%).

Big Increase in Home Sales in February

admin | 27th April 2022 | Andalucía, Buying, Costa del Sol, Málaga, Marbella, News, Prices, Property For Sale, Property Market, Selling, Spain, Statistics/Figures

Home sales grew a massive 24% in February

February 2022 saw a total of 198,895 properties transferred in the property registers. This is 11.4% more than in the same month of 2021. In the case of registered property sales, the number of transactions recorded is 108,299, representing an annual increase of 21.1%, according to data from the INE.

86.8% of the purchases registered in February correspond to urban properties and 13.2% to rustic properties. In the case of urban, 57% were sales of residential properties.

The number of sales of rustic properties increased by 13.7% in the annual rate in February and that of urban properties by 22.4%. Within the latter, housing sales recorded an annual increase of 24.0%.

20.4% of the homes transferred by sale in February were new-build properties, while the remaining 79.6% were second-hand. The number of operations on new homes rose by 9.2% compared to February 2021 and that of used homes by 28.4%.

Home sales made by private buyers accounted for 66.8% of the total residential sales recorded in February 2022.

Results by Autonomous Communities

In the month of February, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in La Rioja (912), Castilla y León (845) and Aragón (750).

The Community of Valencia (29.5%), Castilla-La Mancha (22.6%) and La Rioja (22.1%) registered the highest annual variation rates.

Comunidad Foral de Navarra recorded the only negative variation (–12.1%), while Galicia (0.1%) and Principality of Asturias (3.2%) show the lowest positive change.

In terms of registered home sales, the communities with the highest number of transfers per 100,000 inhabitants are La Rioja (201), Valencia (199) and Andalucía (163).

The communities that presented the greatest annual increases in the number of home sales in February were the Canary Islands (52.2%), La Rioja (46.3%) and the Balearic Islands (42.2%).

The smallest increases occurred in the Principality of Asturias (8.0%) and Galicia (8.8%). The only community with a negative variation rate in the number of home sales is Comunidad Foral de Navarra (–4.6%).

Second-Hand Housing Price Increase in Q1

admin | 11th April 2022 | Andalucía, Buying, Costa del Sol, Marbella, News, Prices, Property For Sale, Property Market, Spain

Second-hand house prices up 0.3% in Q1

In the first three months of 2022, Spain has seen positive variations in the price of second-hand housing. The first quarter closed with a quarterly increase of 0.3%, and a year-on-year increase of 0.8%.This brings the average price of a second-hand home to 1,913 euros per square metre, according to data from Fotocasa.

“Although the rise in prices will be the main trend in 2022, due to the fact that demand is at its highest and the stock continues to decline, we have been detecting for several months how the price of housing is moderating its rises, showing a downward trend and stabilization, due to the fact that the sector is being very agile in response to the great boom in changing homes. It is an evolution that is confirmed in the first quarter of the year and probably, the demand will also moderate due to the imminent rise in interest rates. However, in such a convulsive scenario, the forecasts will suffer alterations and, from the second half of the year, we could see increases in the price of housing if the investment focus increases in the face of the uncertainty caused by the war in Ukraine“, explained María Matos, spokesperson for Fotocasa.

Prices in Autonomous Communities

In the Autonomous Communities, this first quarter of 2022 is presented with nine quarterly and ten year-on-year increases. The community with the highest quarterly increase in the price of second-hand housing for sale is Navarra with 4.1%, followed by Madrid with 3.0%, Catalonia with 1.3%, the Balearic Islands with 0.8%, Asturias with 0.7%, Aragon with 0.3%, Andalucía with 0.3%, Valencia with 0.2% and País Vasco with 0.1%.

On the other hand, the most notable quarterly decreases were seen in the communities of La Rioja with -2.3%, Region of Murcia with -1.9%, Cantabria with -1.7%, Castilla y León with -1.3%, Castilla -La Mancha with -1.3%, Galicia with -1.3%, the Canary Islands with -0.5% and Extremadura with -0.4%.

Regarding the ranking of prices by communities, Madrid, which occupies the first place, is the only one that exceeds the barrier of 3,000 euros, specifically about 3,215 euros per square metre. They are followed by the communities of the Balearic Islands (2,914 euros/m²), the Basque Country (2,884 euros/m²) and Catalonia (2,577 euros/m²). On the other hand, housing prices per square meter in 13 autonomous communities do not exceed 2,000 euros: the Canary Islands (1,773 euros/m²), Cantabria (1,747 euros/m²), Andalucía (1,718 euros/m²), Navarra ( 1,674 euros/m²), Galicia (1,608 euros/m²), Aragon (1,598 euros/m²), Asturias (1,576 euros/m²), Valencian Community (1,450 euros/m²), La Rioja (1,448 euros/m²), Castile and León (1,425 euros/m²), Extremadura (1,137 euros/m²), Region of Murcia (1,123 euros/m²) and Castilla-La Mancha (1,098 euros/m²).

Prices by Province

In the provinces, this first quarter of 2022 is saw 27 quarterly falls and 27 year-on-year increases. The three provinces with the largest quarterly decreases are Palencia with -3.0%, Valladolid with -2.8% and Teruel with -2.8%. On the other hand, the three provinces with the highest quarterly increases are Navarra with 4.1%, Madrid with 3.0% and Malaga with 2.4%.

As for the price ranking by province, Gipuzkoa and Madrid are the only ones that exceed the barrier of 3,000 euros, specifically Gipuzkoa pays 3,215 euros and Madrid 3,147 euros per square metre. On the other hand, the two provinces that do not exceed 1,000 euros are Ciudad Real and Toledo with 950 euros/m2 and 955 euros/m2, respectively.

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