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

Home Sales in Spain Down in August

admin | 9th November 2023 | Buying, Costa del Sol, Marbella, New Developments, News, Property For Sale, Property Market, Selling, Spain

Home sales in Spain fell 14.4% in August

Property transfers in Spain saw a 7.3% fall in August, when compared to the same month of the previous year. The total number of properties transferred in the public registry was 166,982.

For the number of sales of properties, the number was 93,917, which is 11.5% higher than in August 2022.

Of those sales, 88.3% were those of urban properties, while 11.7% were rural properties. In the case of urban property sales, 59.4% were sales of private dwellings, according to data from the INE.

The number of purchases and sales of rural properties decreased by 1.8% in August compared to the same month last year, while the number of urban property sales decreased by 12.6%. Within the latter, home sales registered an annual decrease of 14.4%.

19.1% of the homes transferred by sale in August were new build properties, while the other 80.9% were second-hand homes.

The number of transactions on new homes fell by 7.3% compared to August 2022 and that of used homes fell by 15.9%.

Autonomous Communities

In the month of August, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in Castilla y León (777), La Rioja (664) and Castilla–La Mancha (614).

Castilla y León (7.8%), Castilla–La Mancha (3.8%) and Principado de Asturias (2.8%) registered the highest annual variation rates.

The Balearic Islands (–28.2%), Comunidad de Madrid (–14.1%) and Andalusia (–13.8%) presented the lowest annual rates.

Looking at registered home sales, the communities with the highest number of transmissions per 100,000 inhabitants were Comunitat Valenciana (192), Andalucía and Cantabria (both 154).

The only autonomous communities in which the number of home sales increased in August are Comunidad Foral de Navarra (8.7%) and Principado de Asturias (3.7%).

The Balearic Islands (–37.7%), the Canary Islands (–25.6%) and the Community of Madrid (–22.9%) registered the greatest falls in the number of home sales.

Rental Costs Fall in Third Quarter

admin | 20th October 2023 | Costa del Sol, Marbella, Prices, Property Market, Rental Property, Renting, Spain

Rental prices fell 4% compared to Q2

The cost of rental housing in Spain, closed third quarter with a year-on-year increase of 7.6%. However, compared to the previous quarter, the cost is down 4%. These changes bring the average monthly cost of rental housing at €11.15 p/m².

“Although at a quarterly level the price fell slightly, it must be put into context that this indicator reflects a very specific temporal reality compared to the second quarter of the year, when the rental price reached historical highs. Likewise, the interannual variation shows a very significant increase, and far from the moderation trend that occurred in the summer months. This figure indicates that we are facing a broken rental market, in which the supply cannot absorb the current high demand and that, therefore, the costs will continue at high levels until the end of the year,” explains María Matos, spokesperson for Fotocasa.

In the autonomous communities, we saw eight quarterly increases and 17 annual increases. The three communities to see new high price records are Asturias (€9.25 p/m² per month), the Basque Country (€15.08 p/m² per month) and the Canary Islands (€12.98 p/m² per month).

The order of the quarterly increases is: Asturias (6.8%), Castilla-La Mancha (4.1%), the Basque Country (3.0%), Navarra (1.9%), La Rioja (1.3%), Aragón (1.1%), Canary Islands (1.0%) and Madrid (0.6%).

The communities that recorded quarterly decreases were: Cantabria (-14.6%), Region of Murcia (-8.0%), Andalusia (-3.7%), Extremadura (-3.5%), Catalonia (-2.6%), the Balearic Islands (-2.5%), Galicia (-2.5%), Valencian Community (-2.3%) and Castilla y León (-0.7%).

Regarding the ranking of prices by community, in Madrid you pay the most with an average of 16.80 euros per square meter. This is followed by the communities of the Balearic Islands (€16.73 p/m² per month), Catalonia (€15.53 p/m² per month), the Basque Country (€15.08 p/m² per month), the Canary Islands (€12.98 p/m² per month), Valencian Community (€11.26 p/m² per month), Cantabria (€11.24 p/m² per month), Navarra (€11.00 p/m² per month), Andalusia (€9.43 p/m² per month), Asturias (€9.25 p/m² per month), Aragón (€9.03 p/m² per month), La Rioja (€8.41 p/m² per month), Castilla y León (€8.27 p/m² per month), Galicia (€8.26 p/m² per month), Region of Murcia (€8.09 p/m² per month), Castilla-La Mancha (€6.42 p/m² per month) and Extremadura (6.14 € p/m² per month).

Provinces

In the provinces, this third quarter of 2023 presented 24 quarterly increases and 50 year-on-year increases. The three provinces with the highest quarterly increases are: Huesca (8.0%), Asturias (6.8%), Teruel (6.1%), Albacete (5.6%), Guadalajara (4.9%), Araba – Álava (4.1%), León (3.4%), Bizkaia (2.9%), Palencia (2.7%) and Valladolid (2.2%). The three provinces presented the largest quarterly decreases are: Huelva (-22.4%), Cantabria (-14.6%) and Almería (-10.9%).

Regarding the price ranking by province, Barcelona, Madrid, Balearic Islands and Gipuzkoa are the provinces that exceed the barrier of €16.00 p/m² per month. Regarding the ranking of prices by province, in Barcelona you pay 17.33 euros per square meter. This is followed by the provinces of Madrid with €16.80 p/m² per month, the Balearic Islands with €16.73 p/m² per month and Gipuzkoa with €16.54 p/m² per month.

Rental Costs Down in August

admin | 9th October 2023 | Andalucía, Costa del Sol, Marbella, News, Prices, Property Market, Rental Property, Renting, Spain

Cost of renting a home in Spain fell in August

In Spain, the price of renting a home fell by 2.2% in August, when compared to July. When compared to the same month in the previous year, prices have increased by 4.7%. The current average price of second-hand housing to rent in Spain is €11.34 p/m². This price drop is the fourth consecutive monthly fall.

“During the month of August, rental prices nationwide continue to show a slight trend towards moderation in growth after having shown the most significant variations in its history in recent months. However, the different speeds of the market come to light, the average does not show the reality of the most stressed communities, which continue with very large growth despite the summer season. In fact, 16 of the 50 provincial capitals once again reached price records in the eighth month of the year. Demand is slowing down in areas where demand is usually less intense, but it remains dynamic and strong in cities that attract more and more people, which causes double-digit increases in rent,” explains María Matos, Director of Studies for Fotocasa.

If we analyse rental prices compared to a year ago, we see that 16 communities saw prices increase year-on-year in August. In six communities, double-digit increases were seen, the highest being in the Balearic Islands with a massive 22.1% rise in rental costs. Following close behind are the Canary Islands with 18.0%. Other double-digit increases were seen in the Valencian Community (15.0%), Cantabria (12.9%), La Rioja (12.5%), and the Basque Country (10.4%). Also seeing prices go up were Madrid (9.5%), Andalusia (7.8%), Catalonia (6.5%), Galicia (6.4%), Castilla y León (5.4%), Navarra (5.1%), Castilla-La Mancha (5.0%), Asturias (5.0%), Aragon (1.8%) and Region of Murcia (1.2%). On the other hand, the only community that presented a decrease compared to the previous year was Extremadura with -1%.

Prices by Autonomous Community

In August 2023, three communities exceeded national average cost of renting a property in Spain per square meter per month. The areas of Spain with the highest prices in the entire historical series are: Basque Country (€15.06 p/m² per month), Asturias (€9.11 p/m² per month) and La Rioja (€8.90 p/m² per month).

Regarding the ranking of Autonomous Communities with the most expensive housing prices for renting a home in Spain, in first places are the Balearic Islands and Madrid, with prices of €17.01 p/m² per month and €16.90 p/m² per month, respectively. They are followed by six more communities with prices higher than €10.00 p/m² per month and they are: Catalonia (€15.88 p/m² per month), the Basque Country (€15.06 p/m² per month), the Canary Islands (€12.83 p/m² per month), Cantabria (€12.39 p/m² per month), Valencian Community (€11.40 p/m² per month) and Navarra (€10.93 p/m² per month).

Provinces of Spain

In 45 of the provinces, the year-on-year price of rental housing increased in August 2023, except for Albacete, Ciudad Real, Cuenca and Badajoz. Increases of more than 10% occurred in 12 provinces.

The order of the provinces with interannual increases greater than 10% are: the Balearic Islands (22.1%), Zamora (19.1%), Las Palmas (18.6%), Alicante (18.4%), Valencia (17.4%), Santa Cruz de Tenerife (16.9%), Málaga (14.1%), Cantabria (12.9%), La Rioja (12.5%), Granada (11.3%), Barcelona (10.2%) and Almería (10.2%).

Regarding prices, 15 provinces exceed 10.00 euros per square meter per month. The three most expensive provinces for renting are Barcelona with €17.59 p/m² per month, followed by the Balearic Islands with €17.01 p/m² per month and Gipuzkoa with €16.99 p/m² per month.

Spanish Home Sales Down 10% in July

admin | 22nd September 2023 | Andalucía, Buying, Costa del Sol, Marbella, News, Property For Sale, Property Market, Spain

Sales of new and used homes fell in July

The total number of transferred properties registered in the property registries in July was 170,109 This shows a fall of 4.7%, when compared to the same month of 2022.

In the case of purchases and sales of registered properties, we see 92,262 registered transactions, representing an annual decrease of 8.7%, according to data from the INE.

87.8% of the sales registered in July correspond to urban properties and 12.2% to rural properties. In the case of urban properties, 59.6% were sales of private residences.

The number of purchases and sales of rural properties decreased by 6.0% in July, when compared to July 2022, while the number of sales of urban properties decreased by 9.1%. Within the latter, home sales registered an annual decrease of 10.5%.

Of those home sales, 17.1% were sales of new property, while 82.9% were for second-hand homes.

The number of new home sales showed a fall of 7.4% compared to July 2022, while the sale of second-hand homes slowed by 11.2%.

Results by Autonomous Communities

In the month of July, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in Castilla y León (711), Castilla–La Mancha (629) and Aragón (624).

Extremadura (8.1%), Castilla y León and the Basque Country (both 0.2%) register the highest annual variation rates.

The largest fall in the volume of sales was seen in Navarra (–23.7%), La Rioja (–16.0%) and the Balearic Islands (–15.4%).

Looking only at home sales, the communities with the highest number of transmissions per 100,000 inhabitants were Valencia (189), Region of Murcia (149) and Andalusia (144).

The autonomous communities that presented the largest annual increases in the number of Spanish home sales in July are Extremadura (5.2%), Principality of Asturias (3.8%) and Region of Murcia (0.2%).

Galicia (–22.8%), the Canary Islands (–18.2%) and Navarra (–17.2%) showed the greatest falls in home sales in July.

Sale and Rental Prices Fell in August

admin | 7th September 2023 | Andalucía, Buying, Costa del Sol, Marbella, News, Prices, Property For Sale, Property Market, Selling, Spain

Sale and rental prices for housing in Spain fell 0.2% in August

Sale and rental prices fell 0.2% in August

In August, the price of second-hand housing in Spain fell by 0.2%. The annual variation was more significant falling 7.9% since August 2022. This brings the average cost per square metre to €2,145. The monthly fall seen in August is the first fall in the last two years.

“Historically, the month of August usually shows moderation, due to the summer season in which demand slows down. However, we could be at the beginning of a slowdown trend that becomes more stable throughout the last four months and materializes in communities with less intense demand. At the moment, housing prices continue to show significant increases at the national level and even more worrying in the most stressed autonomies such as the Canary Islands, the Balearic Islands, Navarra or Valencia. It is worth remembering that there continues to be a shortage of housing stock in the market, exacerbated by the stoppage and delay of new construction promotions,” explained María Matos, Director of Studies for Fotocasa.