Benidorm Rincon - Villa Marina 2 Bed Apartment for sale 165.000 Euros

 


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Spanish Property Market Bounces Back by 16% in February

More good news can be seen in the current set of indicators from the National Institute of Statistics (INE). The latest figures show that the Spanish property market grew by 16% in February compared to the same month last year, building on the trend that started in January. This suggest the market has touched bottom and is starting to recovery after 2 years of declines.

 

Not including social housing, there were 35,720 home sales in February, 21,368 of them newly built and 19,665 resales. The following graphs shows how sales have developed over the last 12 months: The chart below shows total property transactions over the period.

 

Although transactions increased in February for the first time in what has been a very long time, they are still a long way down from the 67,187 clocked up in February 2007.

This may be the start of a bounce back.

Property Prices Continue to Recover

Spanish property prices fell by 5.3% over 12 months to the end of March, according to the property price index published monthly by Tinsa, one of Spain’s leading property valuation companies. This represents a continued improvement suggesting that the trend towards price stabilisation is still on track.

From the peak to the present-day level (prices peaked in December 2007), property prices are down 16.2% nationally, 22.5% on the Mediterranean coast, and 13.6% in the Canaries and the Balearics.

Tinsa’s figures are based on their own valuations, not actual transaction prices. Nevertheless, they are interesting in what they reveal about trends, and the valuations used by banks for mortgage lending purposes.


Average Sq.Metre Prices
National: 1,914 €/m2
Mediterranean coast: 2,006 €/m2
Balearics & Canaries: 1,625 €/m2