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Spain housing market

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Sale (5,217)Rent to Own (941)New Construction (854)
663,000
* €/m2
Spanish Property Market Forecast 2019: House Prices in Spain - Investment Analysis
158 m2 | 10 bedrooms | 9 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 6, - What shaped the housing market and, amid lockdown, are people looking at their homes in a new light? O. Over the weeks of Spain's tough. May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term.

Almost two-thirds of the population live in flats, the highest rate for any EU nation apart from Latvia. One day, he would like to own a house in the mountain village outside Madrid where his parents have a second home. But if he stays put, his options are limited. Many Spaniards grew up in flats; using the lift in the building was second nature, and stairs within the flat were the stuff of fantasy.

Apartment residents in Madrid have been maximising use of their balconies during the lockdown period Credit: Getty. Spain may be a nation of flat-dwellers, but it is also traditionally a nation of homeowners. It also made sense in a country where an inflationary economy meant most people put their money into bricks and mortar. The root of apartment living may be economic, but is there a case to be made that Spaniards just like living shoulder-to-shoulder?

For many, growing up surrounded by neighbours has fostered a thriving sense of community. In fact, these neighbourhoods and the allure of living in the heart of the town or city is what attracts many people to live in flats. One reason Spaniards cope so well living in flats is that they spend so much time outside them, taking advantage of the good weather to meet in town squares, parks and at their local bar. A survey by housing solutions provider Velux also found that Spaniards spent considerably more time outdoors each day than Britons.

Spaniards spend more time socialising outside the home than residents of many other European nations Credit: Getty. But living in flats can have its downsides.

Poorer quality flats will have smaller kitchens and fewer rooms as well as absorb the noise and smells from adjoining flats. Looking forward, we estimate Housing Index in Spain to stand at In the long-term, the Spain House Prices is projected to trend around METRE in , according to our econometric models. Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website. Spain House Prices. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter.

Compare Housing Index by Country. Spain Producer Deflation Deepens in April. Spain Industrial Output Falls the Most since European Stocks Extends Gains for 4th Day. Calendar Forecast Indicators News. Current Prices, NSA.

357,000
* €/m2
How will the Spanish property market develop in 2020? [Coronavirus Update]
267 m2 | 5 bedrooms | 8 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about. May 4, - Without notarial, registry or evaluation activity, real estate transactions should be “close to zero” as long as current containment measures are.

Commercial units and investments. Specialists are sure that this is one of the most profitable areas for investment in Spain at the current moment. Large international corporations, such as Yahoo and Microsoft, have their representative offices in these quarters. According to Savills Aguirre Newman's forecast, in over a billion euros will be invested in the offices of Barcelona. Luxury housing. Madrid ranked third in the world in terms of investment in luxury real estate, according to the Barnes Cities Index rating.

This is a large increase from last year, when the Spanish capital was ranked tenth. In drawing up the list, not only was the financial component taken into account, but other factors affecting the life of the buyer in a particular locality are also considered: economic and political stability, transport accessibility, level of taxation, quality of local education, etc.

Barcelona, although not included in the top 10 of the above list, offers buyers a lot of luxury real estate. And here it is not just about expensive units, there is housing for sale in iconic buildings in historic areas, like in Paseo de Gracia, one of the most recognizable avenues of the Catalan capital.

On five floors there are 21 four-room flats, and on the roof of the house there is a spacious terrace with a breath-taking view of the city. Spanish property prices in Growth at a good pace. One of the main indicators used to evaluate the condition of the real estate sector is the price of housing. By , according to the experts, this parameter will continue to rise but in a rather moderate way. Looking ahead in , Fotocasa argues that this sector will continue to grow at a good pace with prices continuing their upward trend, although they will tend to stabilize.

There will be a gradual stabilization in Madrid, Barcelona and other cities with notable recent increases, but prices will continue to grow in their urban areas, and the rest of territories may wait for moderate increases. It stated that at the beginning of , there was a rapid growth in sales of new housing. In January , 9, new homes and flats were sold — the highest figure in five years and At the same time, experts note that the overwhelming majority of transactions The most noticeable growth was registered in Extremadura, Galicia and Aragon.

One of the hottest housing markets in remains the Costa Blanca, popular among the British and famous for its affordable prices. In the first quarter of , Spanish real estate went up by 4. They report that houses and flats in Spain gained in price for the tenth quarter in a row. In 15 out of 50 provinces, the average cost per square metre in the first quarter decreased; this led to Zamora, Lugo, Albacete and Soria losing the most in price.

Sales and rental price difference. He suggested that this rise of rental cost, "has a clear ceiling". This ceiling will be reached when the rent will no longer be affordable for families. In the case of any kind of market regulation, the CEO of Anticipa Real Estate, Eduard Mendiluce, believes that it may have a reverse impact, such as a decrease in the supply of rental accommodation.

He points out that market performance shows that development is uneven; in some region prices are decreasing, which reinforces the need to be careful with the policies that are going to be introduced. And it's not due to strong family bonds, but rather unemployment and expensive rent. At the same time, due to the rapidly-growing demand for tourist rental housing in the country, fewer young Spaniards can afford to rent a flat. To summarise, one of the key reasons why the sale of property has undergone a significant growth in was the increase in the price of rentals.

Accordingly, the demand also went up and customers of all ages started to consider the option to rent to be an irrelevant spending and went for a purchase as the perfect potential long-term asset.

Spain property price forecast. The Spanish real estate sector will continue on expanding and developing this year, albeit not so rapidly, as reported by several specialists in the field. Last year the Spanish property market obtained good rates in terms of sales transactions, although most of them had been made on resale homes. What can we expect in the near future? The demand for property will strengthen this year, amounting for up to , units sold.

The market of resale housing continues to have a significant weight, mainly in the segments of the population that are considering a first purchase, due to the gap between the prices for new housing and salaries. The Spanish housing market will continue to emerge this year, with the main trend directed towards stabilisation.

There is still a room for development in the residential sector for , whilst the growth will be rather modest. Overall, the property market will have more possibilities in growth from the number of transactions rather than from prices. Mendiluce Anticipa , has estimated that the market, "has been expanding for some years now," and that this tendency will remain for the current year.

Following Anticipa research, expectations for point to close to , units sold, which is 5. Is the Spanish property market approaching a real estate bubble?

A real estate bubble? Experts deny that the market is heading towards one. For Mendiluce Anticipa , an increase in price is the case only in some cities, metropolitan zones, tourist areas or places with a big gap between demand and supply.

We should follow the logic and avoid talking about bubbles in the sector, because it is not the case. In prices were adapted to what the buyer could spend, and it is reasonable that the economy and the level of employment started to recover. As a consequence, prices will increase, and regions of high interest will feel a bit of stress. In megapolises such as Barcelona and Madrid the prices went up because the current offer is not capable of responding to high demand.

Mendiluce Anticipa has pointed at the lack of existing land available for construction. Spain has achieved a point of maturity and we no longer wait consumer activity to drastically increase, but the numbers of new developments will slightly rise, somewhat around the 80, new dwellings.

This current period is characterised by a protagonist who was not that active earlier: the customer. The client will start to strongly influence innovation and sustainability, which various developers are already working on, specifically in covering even more the needs of the prospective proprietors.

The goal of the promoters is to propose green, up-to-date and smart homes fully adjusted to the requirements of the clients. The Spanish property market has fallen to a standstill situation, as the rest of the economy in most European countries, although it is expected to resume activity during , as the coronavirus crisis follows its natural course. The recovery will be due to domestic demand by Spanish nationals and the holiday property market by European citizens.

This could be one of the extraordinary measures that are now being implemented by the Spanish Government, to prevent that all new housing promotions suffer the consequences of a long term crisis.

VAT is applied to the property so the reduction would benefit all buyers, regarding their nationality. The foreign holiday property market might be subject to high and low fluctuations as the crisis progresses during this year, once the movement restrictions are lifted.

Real Estate Agents are finding new innovative ways to keep customers interested and be ready to attract three types of customers, in an ideal scenario of a sudden rush in the property market:. Assuming that interest rates remain low for the time being and there is a lack of alternatives to make a return, the flow of money that goes towards the property market will remain high. This will ensure stabilization of Spanish house prices in A good indicator of the evolution of the property market in Spain can be seen in the data showing the price per square meter.

This data can be used to forecast and predict the path of the Spanish housing market. As the graph below shows, the growth continues steadily into Our Properties in Spain. According to the European Commission, the growth prediction for the Spanish economy in is 1. The unresolved political issues to be dealt with by a fragmented Parliament and the demands in Catalonia and the coronavirus Covid situation are factors that might influence the already weak global economy, in Europe and the rest of the world.

The construction sector in Spain seems to be moving once again. The supply of housing is still growing faster than the demand. This mainly applies to existing construction. There is much more housing supply on the market than the market can handle. The demand is growing slightly, but the supply is growing much faster. That is because, during the Spanish property crisis, sellers have been holding on for years, waiting for better times to sell their property. I think will give some of them quite a shock.

Already, there are rumours circulating of developers delaying the launch of new phases as sales slow. Lack of well-priced, top quality properties in prime locations is also a feature of the current resale market. However, available stock is more in balance with demand. In my experience they are much more likely to walk away than overpay. Look hard and there are still good deals available.

However, I have a problem with many asking prices. I feel sellers assume that just because new-build prices have gone through the roof they can ramp up their asking prices to similar levels. That assumption is incorrect in my view. As I started a search for a client at the beginning of I noticed that every house under consideration had been reduced from the original asking price.

When over-optimistic sellers reduce asking prices to more in line with what the market can stand, they sell. And in price per square metre terms that will be way below new-builds prices. Marbella, the sixth most expensive town in Spain, is a good example of the new-build versus resale price conundrum. At the start of a client was negotiating to buy a detached villa.

With 5 bedrooms, m from the beach, walking distance to town, and with the contemporary look that is so in demand. Also at the beginning of I located a 2 bedroom townhouse, fully renovated to the highest of standards. However, it too had reduced from the original asking price before a buyer emerged For the same clients, I have just added a beachfront apartment to the short list.

When I am researching the market for my clients I always do the price per square metre calculation to help me come to a conclusion about the asking price.

I told him it was a bit late for that, the time for price comparisons was in , not The fact is, shiny new stuff never trumps location. Seems the developer has licence problems. However, buyers are already paying more than that per square metre just to get their hands on a new property.

However, in my view that will be because new-build prices retreat, not because resale prices increase markedly. There is a close link between rental yields in Spain and the health of the Spanish tourism sector. Currently, Spain is the second most visited country in the world. Obviously, some will have their own homes, or stay with family and friends, but that leaves a serious number of overseas visitors renting privately.

As a result, rental yields make letting a property in Spain an interesting option. There is high demand for both long and short term rentals. What used to be considered luxury items, such as free wifi, flat screen t. There is just as much demand for smart two bedroom apartments in the right location. I thought property price rises would squeeze yields. In all cases, location and interior finishes are key. It seems likely that demand for short-term holiday rentals is only going to increase.

In , just before the global meltdown, Spain welcomed 59m overseas visitors, an all-time record. At the end of the annual total had fallen to However, a decade later, the statistics show the 83m barrier broken for the first time. In fact, at There are also signs that improved marketing to pitch Spain as a year-round destination is paying off. In the three winter months, January through March, showed the biggest monthly increases while the three summer months were either flat or decreased slightly.

This indicates there is improving rental potential throughout the year and not just in the traditional high season summer months. Analysis of the tourism statistics indicates that the decline of foreign tourists in high season was the result of the recovery in cheaper package-holiday destinations such as Tunisia, Morocco and Egypt rather than fewer high-end tourists. And the very high demand for the most expensive rental properties seems to bear this out. The most important thing, in my view, is that there are no losses at the top of the market.

It is vital that the quality sector continues to grow. When I am working for a client whose brief requires reliable rental income I target certain areas and ignore others. In addition, I search for a type of property and reject others. Get the location wrong, even by just a few kilometres and income may be halved. As well as pinpointing the right location in a particular area you need to be in the right region because some have legislated against short term holiday lettings, pressured by the powerful hotel lobby and disgruntled locals.

So, if rental income is a requirement of your buying plan then check the legislation in that autonomous region because there are differences. But the days of leaving a set of keys at the local bar and crossing fingers that no emergencies will arise are over. My blog here explains more. Obviously, the principle reason for this is that Spanish banks were drowning in bad debts and new mortgages were scarce.

Only a massive bail-out from the European Central Bank prevented widespread collapse. One of the first questions I ask potential clients is whether they they are cash buyers or if they need finance. I do this because I believe it is better to get an indication of borrowing potential before I start a property search.

When the answer comes back that they are cash buyers I always ask if they are aware of the fixed rate mortgages currently available in Spain. Most are not. However, once they knew all my recent clients who had intended to buy with cash have opted to take the maximum they could borrow.

Euribor is the interest rate which fixes most Spanish mortgages and it has been in negative territory since February After falling month on month throughout it closed the year slightly up from the historic low of It now stands at In the recession fixed rate mortgages disappeared from the market.

Indeed, the majority of international buyers are opting for fixed rate over variable rate loans. My advice to cash buyers, irrespective of the currency, is to protect their capital and take a Spanish mortgage. There are many products to chose from with fixed terms from 5 — 25 years, interest rates from 2. There are a lot of variables, such as country of residency, amount required, location of purchase.

However, there are no restrictions on nationality or purchase price. A good broker is essential. Status is scrutinised very carefully but in general the process is straightforward and quick.

In the case of some of my clients we have even had banks competing for the business. It noted that Spanish banks are highly exposed to real estate sector developments and may underestimate the speed at which house prices and relaxed lending criteria can gain traction.

Also in December , I noted warnings from valuers about the spectre of overvaluations creeping back into the market. The loan is then offered on whichever is lower, the valuation or the property price. They may be only a warning flag but they may also be the first signs of something more serious. Even more reason then for buyers to be very cautious, particularly in the new-build market.

It is essential to do the research and compare asking prices for new property with comparables in the resale sector. Look at peak prices prior to the crash and ask yourself if you should be paying even more than that now. Lots of soft focus life-style images, very seductive, but better to check the price per square metre and ask if it makes sense.

However, if you buy at the right price, Spanish property is still relatively affordable. The sun continues to shine and the quality of life is rated one of the best in the world. The lack of high-quality inventory at the right price in prime locations will be an issue throughout As far as the overseas market is concerned that means the Mediterranean coasts, the Balearics and the Canaries. My advice to buyers in is do not obsess about new-builds, especially if not located in prime positions.

Many are not. Consider equivalent resales, calculate the price per sq. Then you can take an informed view on what makes the best financial sense. The result will almost certainly be a lower price, a bigger property and, most important of all, a superior location.

A thorough search can still uncover some real deals although they will be harder to find in Nevertheless, there will always be some sellers more motivated and realistic than others. If there is a mobile mast in view assume there will be more as the tendency is for them multiply. Electricity pylons are also a big no-no. We can assume new housing will increase in the medium term.

Already, in some areas I can count twenty cranes while standing still.

467,000
* €/m2
The Property Finders
234 m2 | 2 bedrooms | 4 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 6, - What shaped the housing market and, amid lockdown, are people looking at their homes in a new light? O. Over the weeks of Spain's tough. May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. After seven long years of house price declines, Spain's housing market only returned to growth in Spanish house prices had fallen by a total of % (

Luxury housing. Madrid ranked third in the world in terms of investment in luxury real estate, according to the Barnes Cities Index rating. This is a large increase from last year, when the Spanish capital was ranked tenth.

In drawing up the list, not only was the financial component taken into account, but other factors affecting the life of the buyer in a particular locality are also considered: economic and political stability, transport accessibility, level of taxation, quality of local education, etc. Barcelona, although not included in the top 10 of the above list, offers buyers a lot of luxury real estate. And here it is not just about expensive units, there is housing for sale in iconic buildings in historic areas, like in Paseo de Gracia, one of the most recognizable avenues of the Catalan capital.

On five floors there are 21 four-room flats, and on the roof of the house there is a spacious terrace with a breath-taking view of the city. Spanish property prices in Growth at a good pace. One of the main indicators used to evaluate the condition of the real estate sector is the price of housing.

By , according to the experts, this parameter will continue to rise but in a rather moderate way. Looking ahead in , Fotocasa argues that this sector will continue to grow at a good pace with prices continuing their upward trend, although they will tend to stabilize. There will be a gradual stabilization in Madrid, Barcelona and other cities with notable recent increases, but prices will continue to grow in their urban areas, and the rest of territories may wait for moderate increases.

It stated that at the beginning of , there was a rapid growth in sales of new housing. In January , 9, new homes and flats were sold — the highest figure in five years and At the same time, experts note that the overwhelming majority of transactions The most noticeable growth was registered in Extremadura, Galicia and Aragon.

One of the hottest housing markets in remains the Costa Blanca, popular among the British and famous for its affordable prices. In the first quarter of , Spanish real estate went up by 4. They report that houses and flats in Spain gained in price for the tenth quarter in a row. In 15 out of 50 provinces, the average cost per square metre in the first quarter decreased; this led to Zamora, Lugo, Albacete and Soria losing the most in price.

Sales and rental price difference. He suggested that this rise of rental cost, "has a clear ceiling". This ceiling will be reached when the rent will no longer be affordable for families. In the case of any kind of market regulation, the CEO of Anticipa Real Estate, Eduard Mendiluce, believes that it may have a reverse impact, such as a decrease in the supply of rental accommodation.

He points out that market performance shows that development is uneven; in some region prices are decreasing, which reinforces the need to be careful with the policies that are going to be introduced. And it's not due to strong family bonds, but rather unemployment and expensive rent. At the same time, due to the rapidly-growing demand for tourist rental housing in the country, fewer young Spaniards can afford to rent a flat. To summarise, one of the key reasons why the sale of property has undergone a significant growth in was the increase in the price of rentals.

Accordingly, the demand also went up and customers of all ages started to consider the option to rent to be an irrelevant spending and went for a purchase as the perfect potential long-term asset.

Spain property price forecast. The Spanish real estate sector will continue on expanding and developing this year, albeit not so rapidly, as reported by several specialists in the field. Last year the Spanish property market obtained good rates in terms of sales transactions, although most of them had been made on resale homes. What can we expect in the near future?

The demand for property will strengthen this year, amounting for up to , units sold. The market of resale housing continues to have a significant weight, mainly in the segments of the population that are considering a first purchase, due to the gap between the prices for new housing and salaries. The Spanish housing market will continue to emerge this year, with the main trend directed towards stabilisation.

There is still a room for development in the residential sector for , whilst the growth will be rather modest. Overall, the property market will have more possibilities in growth from the number of transactions rather than from prices. Mendiluce Anticipa , has estimated that the market, "has been expanding for some years now," and that this tendency will remain for the current year.

Following Anticipa research, expectations for point to close to , units sold, which is 5. Is the Spanish property market approaching a real estate bubble? A real estate bubble? Experts deny that the market is heading towards one. For Mendiluce Anticipa , an increase in price is the case only in some cities, metropolitan zones, tourist areas or places with a big gap between demand and supply.

We should follow the logic and avoid talking about bubbles in the sector, because it is not the case. In prices were adapted to what the buyer could spend, and it is reasonable that the economy and the level of employment started to recover.

As a consequence, prices will increase, and regions of high interest will feel a bit of stress. In megapolises such as Barcelona and Madrid the prices went up because the current offer is not capable of responding to high demand. Mendiluce Anticipa has pointed at the lack of existing land available for construction. Spain has achieved a point of maturity and we no longer wait consumer activity to drastically increase, but the numbers of new developments will slightly rise, somewhat around the 80, new dwellings.

This current period is characterised by a protagonist who was not that active earlier: the customer. The client will start to strongly influence innovation and sustainability, which various developers are already working on, specifically in covering even more the needs of the prospective proprietors. The goal of the promoters is to propose green, up-to-date and smart homes fully adjusted to the requirements of the clients.

All in all, specialists of the real estate sector underline that the following year will be the period of maturity of a fundamental sector of the economy of Spain. Spanish property market after Brexit. The divorce process between the United Kingdom and the European Union seemed it would be an element of distortion, if not a brake, in terms of sales of homes to British customers; especially considering that the United Kingdom is the main customer of the Spanish real estate sector.

But it has not been that way. Based on the data, the results of Brexit were only felt in the second half of , just after the vote. British sales fell by 3. The British now pay even more for their houses than before. The average rate for real estate purchased in Alicante now reached , euros, while in the average price was , euros per property. However, the weight of British customers in total sales has slowed down. And after winning the YES to Brexit vote in June , local promoters intensified their diversification actions to look for more clients in other countries with the aim of reducing their exposure to British buyers.

For example, in , In , residents of the United Kingdom accounted for Trends in housing:. The sales figures are projected to go up from , to , housing units. In the average increase will be more moderate in the big cities and along the coasts, but the increases will affect a greater number of medium-sized cities. Around , to , homes will be built. The vacation rental market is still booming.

Coastal housing will continue to monopolise the interest of small investors searching for profitability. The possible intervention of the Public Administrations in order to control the rental price of housing will remain on the political agenda. More than 8 million Spanish homes await rehabilitation.

One of the drivers of the sector will be renovating the aging Spanish residential parks. Trends in commercial property:. This, the most profitable real estate asset, stabilises. The return to investors of commercial premises will continue to be important, but will not grow as it has in the last few years.

In the first 9 months of it was 9. The flagship store grows. The big chains will continue to develop their brand experience in important locations in Madrid and Barcelona will continue to monopolise the market, but to a lesser extent. The real estate retail in the medium cities will arouse more interest among investors.

The online brands bet on the physical stores. There will be more pure online operators with a commercial presence on the street following the US trend where digital brands are planning to open physical stores in the next five years.

Thank you for your attention! For more information please contact the managers of our agency. Similar yields, or maybe slightly lower, can also be had in Madrid.

All these yields figures are higher than last year, which was higher than the previous year. Spain is once again beginning to look a possible investment destination. The average price of urban land transactions in Spain rose by 4. Fourteen of the 17 autonomous communities where figures are available saw land price rises during the year to Q3 The number of land transactions fell by On the other hand, transactions of newly built houses increased slightly by 1.

Almost half of the autonomous regions and cities saw falling demand. During the first ten months of , Santa Cruz de Tenerife recorded the biggest fall in sales of There were also declines in Madrid In contrast, Ceuta registered the biggest sales surge of a whopping The modest decline might be due to the fact that home sales reached almost , units in , up Home sales to foreigners were 4.

Foreign investors started to return to the Spanish property market in In , foreign homebuyers bought over 65, homes in Spain, up 7.

Other buyers include Swedes, Belgians, Italians and Chinese. The Golden Visa scheme, fully applicable since 30th September , has increased interest not only from the Middle East but also Asia and Russia.

In the first half of , there were about approved Golden visa applicants , up An overwhelming majority of applicants choose real estate acquisition as a qualifying investment. The Balearic Islands are especially attractive to foreigners with about one third of total demand coming from foreigners, mainly due to its white-sand beaches and sunny Mediterranean landscape.

Of the autonomous regions and cities, Galicia registered the biggest increase in foreclosures of In contrast, foreclosures continue to decline in La Rioja Foreclosures were almost steady in Castilla y Leon , Balears , and Cantabria.

Residential building permits averaged , annually from to With home sales of about , units per year from to and completions of just 51, annually, it is believed that the housing glut has been finally corrected. In fact, some allege there is now a growing housing shortage. However construction activity is slowing again, after reaching a seven-year high in In November , the average mortgage rate in Spain was 1. However, there has been a continuous decline in the share of adjustable rate mortgages in recent years.

Despite ultra-low interest rates, the Spanish mortgage market continues to shrink. It contracted to about New home mortgages increased by a minuscule 0. Average apartment rents in Spain rose by 2. By autonomous region, Cantabria recorded the highest rent increase of In contrast, La Rioja 1. In March , a new government decree regulating rental dwellings in Spain went into effect, in an effort to limit rent increases and expand tenant protection and rights.

Among the major changes, the measure caps annual rent hikes at the rate of inflation within the contract period; extends the duration of the rental contract from 3 years to 5 years or 7 years if the landlord is a business entity ; and introduces a state benchmark index for rental prices that will be used to gauge the current state of the market. The new law will be applied to new lease agreements signed on March 6, onwards.

In January 23, , Spain became the second euro zone country to exit its international bailout program, after Ireland. The Spanish economy has consistently outperformed much of Europe since. However, it has been a long, hard slog. The economy shrank by 1. In , the economy grew by a meager 0. The European Commission is even more pessimistic, projecting the Spanish economy to grow by just 1.

Spanish unemployment fell to The total number of unemployed is 3. Inflation is expected to remain low at 1.

630,000
* €/m2
A selection from the properties of Houses In Spain
196 m2 | 8 bedrooms | 10 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about. After seven long years of house price declines, Spain's housing market only returned to growth in Spanish house prices had fallen by a total of % (

She believes that growing perception of access to nature as a universal right, plus technological change, will be reflected in the homes of the future. One example: the rise in young freelancers who work from home.

The prolonged Covid confinement has forced people to look at their homes in a new light, adds Acha. And what about the eternal issue of noisy neighbours?

But if lockdown is revealing the worst aspects of apartment living, it is also showcasing the very best. As well as the nightly applause for healthcare workers, social media videos have shown neighbours doing group workouts, bingo games and singing Happy Birthday to each other from their balconies. For Miguel Cobos, if anything, the lockdown has reinforced community spirit. Share using Email. By Jessica Jones 11th May Two-thirds of all Spaniards live in flats.

The number of land transactions fell by On the other hand, transactions of newly built houses increased slightly by 1. Almost half of the autonomous regions and cities saw falling demand. During the first ten months of , Santa Cruz de Tenerife recorded the biggest fall in sales of There were also declines in Madrid In contrast, Ceuta registered the biggest sales surge of a whopping The modest decline might be due to the fact that home sales reached almost , units in , up Home sales to foreigners were 4.

Foreign investors started to return to the Spanish property market in In , foreign homebuyers bought over 65, homes in Spain, up 7. Other buyers include Swedes, Belgians, Italians and Chinese.

The Golden Visa scheme, fully applicable since 30th September , has increased interest not only from the Middle East but also Asia and Russia. In the first half of , there were about approved Golden visa applicants , up An overwhelming majority of applicants choose real estate acquisition as a qualifying investment. The Balearic Islands are especially attractive to foreigners with about one third of total demand coming from foreigners, mainly due to its white-sand beaches and sunny Mediterranean landscape.

Of the autonomous regions and cities, Galicia registered the biggest increase in foreclosures of In contrast, foreclosures continue to decline in La Rioja Foreclosures were almost steady in Castilla y Leon , Balears , and Cantabria. Residential building permits averaged , annually from to With home sales of about , units per year from to and completions of just 51, annually, it is believed that the housing glut has been finally corrected.

In fact, some allege there is now a growing housing shortage. However construction activity is slowing again, after reaching a seven-year high in In November , the average mortgage rate in Spain was 1. However, there has been a continuous decline in the share of adjustable rate mortgages in recent years.

Despite ultra-low interest rates, the Spanish mortgage market continues to shrink. It contracted to about New home mortgages increased by a minuscule 0. Average apartment rents in Spain rose by 2. By autonomous region, Cantabria recorded the highest rent increase of In contrast, La Rioja 1. In March , a new government decree regulating rental dwellings in Spain went into effect, in an effort to limit rent increases and expand tenant protection and rights.

Housing Index in Spain increased to METRE in the fourth quarter of from METRE in the third quarter of Housing Index in Spain averaged METRE from until , reaching an all time high of METRE in the first quarter of and a record low of METRE in the first quarter of This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Spain House Prices - values, historical data and charts - was last updated on May of Housing Index in Spain is expected to be Looking forward, we estimate Housing Index in Spain to stand at

227,000
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These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. This will ensure stabilization of Spanish house prices in A good indicator of the evolution of the property market in Spain can be seen in the data showing the. How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'.

Even so, only Activity of foreigner buyers on the Spanish property market also slightly declined in , compared to from over 65, operations in , to just 63, transactions last year The part of the home purchase made by foreigners during was Comunitat Valenciana The British, French and Germans are still the main foreign buyers.

However, their weight on total transactions of British has continued to drop since the announcement of Brexit. As usual, the coastal provinces of Spain are of the highest demand among foreigners. Alicante In , the price of housing registered an increase of 7. Expert opinions on the Spanish property market. We expect the slowdown to continue in the residential market during , both in housing sales, prices and new construction. Thus, he foresees an "exhaustion of the expansionary cycle" in this market that he attributes to the economic situation.

What is the reason for the growth to slow down? On the one hand, due to the maturity of the cycle which the sector is entering throughout Europe and, on the other, the difficulties in accessing housing after the price growth that has happened in recent years. In other words, since supply does not cover demand in specific places of Spain, such as the metropolitan areas of Madrid or Barcelona, it pulls prices up.

Still, at the same time, being so expensive, the market slows down due to lack of access, and as a result, the growth slows down.

Real Estate compass. Are we approaching another crisis? For now, almost no one sees an economic crisis coming soon. In his opinion, the Spanish market has reached " a stable phase with moderate growth in prices and quite decent sales rates".

Nevertheless, a final prognosis can be made no earlier than June , when the impact of the economic slowdown after the pandemic will be obvious.

Which innovations to expect? Advances in home automation and smart systems became the centre of attention among some big companies in the sector. An example of this is smart lockers, which are gaining popularity in large cities. In a world of online shopping where still one of four home deliveries fail due to the absence of people at home, this innovative system appears as a real solution.

These lockers are installed in common areas of buildings and owners can access it with a simple code or an app. Technology is revolutionizing and changing the sector.

We cannot lose sight of sustainability. In , the European directive on the energy efficiency of buildings came in power, which establishes that, by the end of the year, all new constructions must support almost zero energy consumption. We must continue working on the industrialization of the construction process.

Current real estate prices in Spain. The price of housing in Spain has shown a decrease of 0. But if we compare the current price to February , we can see the increase of 3. The opposite case is Extremadura, which has experienced an increase of 1. Price per m2 and annual variation in all regions of Spain:. Region;Price per m2 in Feb ;Annual variation. Spanish property price forecast for The real estate portal Pisos.

The rental prices will increase by 2. The Association of Builders Promoters, who are the employers of construction companies, predict sale prices to increase by 3. Moody's rating agency supposes that the Spanish real estate market will be the most expensive housing market in Europe in They predict the property prices in Spain to grow by 5.

As for Euribor, they believe that it will remain below zero, between In this way, the purchase and sale of homes in faces a moderation or a slow down of both prices and the number of operations.

Spanish real estate market after Brexit. Brexit would mark the revolution in purchasing of real estate by foreigners in Spain. First reason is a devaluation of the pound and, therefore, the increase in the price of housing for the British buyer.

Also, some of the prospective buyers from the UK have already decided to delay their purchase decision until they know more about what Brexit is bringing them. Specific segments of the housing market in Spain may experience a drop in the prices of their properties.

Among the types of properties most affected could be apartments and single-family homes in urbanizations near a beach at a price above , EUR. Also, the Brits could put their homes for sale on the Spanish coast, increasing the stock. Well, it is already the case, but not on a big scale. Some experts predict a worrying increase in the stock.

At the same time, the market is not ready to absorb this offer so that such properties would become part of the unsold housing stock in the medium and long term. Others think that British homes may be an investment opportunity because they would be priced below the market for a faster sale.

Uncertainty surrounds Brexit and housing in Spain. Both Spain and the United Kingdom have strong relations at the level of trade and population. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website.

Spain House Prices. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter.

Compare Housing Index by Country. Spain Producer Deflation Deepens in April. Spain Industrial Output Falls the Most since European Stocks Extends Gains for 4th Day. Calendar Forecast Indicators News. Current Prices, NSA. Construction Output. Housing Index. Home Ownership Rate. Mortgage Approvals. New Home Sales. Housing Starts.

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Apr 27, - Spain's Real Estate Market Estimates That This Summer Will See Massive Price Slashes as Housing Bubble is on The Brink of Bursting. By. How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'. These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research.

In , just before the global meltdown, Spain welcomed 59m overseas visitors, an all-time record. At the end of the annual total had fallen to However, a decade later, the statistics show the 83m barrier broken for the first time. In fact, at There are also signs that improved marketing to pitch Spain as a year-round destination is paying off. In the three winter months, January through March, showed the biggest monthly increases while the three summer months were either flat or decreased slightly.

This indicates there is improving rental potential throughout the year and not just in the traditional high season summer months. Analysis of the tourism statistics indicates that the decline of foreign tourists in high season was the result of the recovery in cheaper package-holiday destinations such as Tunisia, Morocco and Egypt rather than fewer high-end tourists. And the very high demand for the most expensive rental properties seems to bear this out.

The most important thing, in my view, is that there are no losses at the top of the market. It is vital that the quality sector continues to grow. When I am working for a client whose brief requires reliable rental income I target certain areas and ignore others. In addition, I search for a type of property and reject others. Get the location wrong, even by just a few kilometres and income may be halved.

As well as pinpointing the right location in a particular area you need to be in the right region because some have legislated against short term holiday lettings, pressured by the powerful hotel lobby and disgruntled locals. So, if rental income is a requirement of your buying plan then check the legislation in that autonomous region because there are differences. But the days of leaving a set of keys at the local bar and crossing fingers that no emergencies will arise are over.

My blog here explains more. Obviously, the principle reason for this is that Spanish banks were drowning in bad debts and new mortgages were scarce. Only a massive bail-out from the European Central Bank prevented widespread collapse. One of the first questions I ask potential clients is whether they they are cash buyers or if they need finance.

I do this because I believe it is better to get an indication of borrowing potential before I start a property search. When the answer comes back that they are cash buyers I always ask if they are aware of the fixed rate mortgages currently available in Spain. Most are not. However, once they knew all my recent clients who had intended to buy with cash have opted to take the maximum they could borrow.

Euribor is the interest rate which fixes most Spanish mortgages and it has been in negative territory since February After falling month on month throughout it closed the year slightly up from the historic low of It now stands at In the recession fixed rate mortgages disappeared from the market. Indeed, the majority of international buyers are opting for fixed rate over variable rate loans.

My advice to cash buyers, irrespective of the currency, is to protect their capital and take a Spanish mortgage. There are many products to chose from with fixed terms from 5 — 25 years, interest rates from 2. There are a lot of variables, such as country of residency, amount required, location of purchase.

However, there are no restrictions on nationality or purchase price. A good broker is essential. Status is scrutinised very carefully but in general the process is straightforward and quick. In the case of some of my clients we have even had banks competing for the business. It noted that Spanish banks are highly exposed to real estate sector developments and may underestimate the speed at which house prices and relaxed lending criteria can gain traction.

Also in December , I noted warnings from valuers about the spectre of overvaluations creeping back into the market. The loan is then offered on whichever is lower, the valuation or the property price. They may be only a warning flag but they may also be the first signs of something more serious. Even more reason then for buyers to be very cautious, particularly in the new-build market. It is essential to do the research and compare asking prices for new property with comparables in the resale sector.

Look at peak prices prior to the crash and ask yourself if you should be paying even more than that now. Lots of soft focus life-style images, very seductive, but better to check the price per square metre and ask if it makes sense. However, if you buy at the right price, Spanish property is still relatively affordable. The sun continues to shine and the quality of life is rated one of the best in the world.

The lack of high-quality inventory at the right price in prime locations will be an issue throughout As far as the overseas market is concerned that means the Mediterranean coasts, the Balearics and the Canaries.

My advice to buyers in is do not obsess about new-builds, especially if not located in prime positions. Many are not. Consider equivalent resales, calculate the price per sq. Then you can take an informed view on what makes the best financial sense. The result will almost certainly be a lower price, a bigger property and, most important of all, a superior location.

A thorough search can still uncover some real deals although they will be harder to find in Nevertheless, there will always be some sellers more motivated and realistic than others. If there is a mobile mast in view assume there will be more as the tendency is for them multiply.

Electricity pylons are also a big no-no. We can assume new housing will increase in the medium term. Already, in some areas I can count twenty cranes while standing still. If there is vacant land nearby find out with absolute certainty what, if anything, can be constructed. The selling agent saying it is green zone is just not good enough. Why risk losing a fabulous view? And finally, when I am assessing properties for my clients I always ask the following questions.

If circumstances change and they need to sell quickly is the price right to enable them to do that? Secondly, is this a property for which there will always be demand irrespective of market conditions? And that is that there will always be demand for top quality in prime locations. It always has been, still is and always will be about location. And I, for one, will be waiting for the full-year number of overseas buyers in with even more interest than usual.

That statistic will tell us a lot. I update this Spanish Property Market report throughout the year as new data becomes available. You can also follow us on Twitter and Facebook for the latest news as it happens.

Still in recovery mode from the meltdown, the Spanish property market faces more turmoil in the wake of Covid The signs were there at the end of Now the 1st half year statistics seem to confirm a downward trend. Overseas demand in Spain in Will it be up, down or flatlining? All intellectual property in the design, images and text of this website are and will remain the property of The Property Finders.

Any infringement of our rights will be pursued vigorously. GDPR - We guarantee the personal data entered in the contact form will only be used for the purpose of replying to your enquiry and will not be shared with any other company, service or provider.

Spanish Property Market Introduction Without doubt an important factor in the recovery of the Spanish property market since the meltdown has been the growth of the overseas sector. Where the numbers come from The Notaries produce the most reliable property market statistics. But there are always buts However, the fact is that, in spite of minor improvements, not that much changed in Where is the Action? Regional Variations And the same patchy recovery pattern occurs within regions as well.

The Supply Side At the height of the building frenzy in Spain approved building licences for , units. The Price per Square Metre Conundrum Marbella, the sixth most expensive town in Spain, is a good example of the new-build versus resale price conundrum. Rental Yields There is a close link between rental yields in Spain and the health of the Spanish tourism sector. Tourism Numbers It seems likely that demand for short-term holiday rentals is only going to increase. It is vital that the quality sector continues to grow Important for Yields When I am working for a client whose brief requires reliable rental income I target certain areas and ignore others.

Spoilt for Choice There are many products to chose from with fixed terms from 5 — 25 years, interest rates from 2. Getting it Right However, if you buy at the right price, Spanish property is still relatively affordable.

Economic recovery. Reduced financing cost. The stress rate is currently at The analysts forecast this low rate environment will continue in the coming years. In Europe. In Spain. Home In Spain Housing prices could stabilize from supported by several factors. Housing prices could stabilize from and should be supported by several factors: Balance between supply and demand.

Attractive rental yield 3. We'll assume you're ok with this, but you can opt-out if you wish. The Spanish real estate sector will continue on expanding and developing this year, albeit not so rapidly, as reported by several specialists in the field.

Last year the Spanish property market obtained good rates in terms of sales transactions, although most of them had been made on resale homes. What can we expect in the near future? The demand for property will strengthen this year, amounting for up to , units sold. The market of resale housing continues to have a significant weight, mainly in the segments of the population that are considering a first purchase, due to the gap between the prices for new housing and salaries.

The Spanish housing market will continue to emerge this year, with the main trend directed towards stabilisation. There is still a room for development in the residential sector for , whilst the growth will be rather modest. Overall, the property market will have more possibilities in growth from the number of transactions rather than from prices.

Mendiluce Anticipa , has estimated that the market, "has been expanding for some years now," and that this tendency will remain for the current year. Following Anticipa research, expectations for point to close to , units sold, which is 5. Is the Spanish property market approaching a real estate bubble? A real estate bubble? Experts deny that the market is heading towards one. For Mendiluce Anticipa , an increase in price is the case only in some cities, metropolitan zones, tourist areas or places with a big gap between demand and supply.

We should follow the logic and avoid talking about bubbles in the sector, because it is not the case. In prices were adapted to what the buyer could spend, and it is reasonable that the economy and the level of employment started to recover. As a consequence, prices will increase, and regions of high interest will feel a bit of stress. In megapolises such as Barcelona and Madrid the prices went up because the current offer is not capable of responding to high demand.

Mendiluce Anticipa has pointed at the lack of existing land available for construction. Spain has achieved a point of maturity and we no longer wait consumer activity to drastically increase, but the numbers of new developments will slightly rise, somewhat around the 80, new dwellings.

This current period is characterised by a protagonist who was not that active earlier: the customer. The client will start to strongly influence innovation and sustainability, which various developers are already working on, specifically in covering even more the needs of the prospective proprietors. The goal of the promoters is to propose green, up-to-date and smart homes fully adjusted to the requirements of the clients.

All in all, specialists of the real estate sector underline that the following year will be the period of maturity of a fundamental sector of the economy of Spain. Spanish property market after Brexit. The divorce process between the United Kingdom and the European Union seemed it would be an element of distortion, if not a brake, in terms of sales of homes to British customers; especially considering that the United Kingdom is the main customer of the Spanish real estate sector.

But it has not been that way. Based on the data, the results of Brexit were only felt in the second half of , just after the vote. British sales fell by 3. The British now pay even more for their houses than before. The average rate for real estate purchased in Alicante now reached , euros, while in the average price was , euros per property. However, the weight of British customers in total sales has slowed down. And after winning the YES to Brexit vote in June , local promoters intensified their diversification actions to look for more clients in other countries with the aim of reducing their exposure to British buyers.

For example, in , In , residents of the United Kingdom accounted for Trends in housing:. The sales figures are projected to go up from , to , housing units. In the average increase will be more moderate in the big cities and along the coasts, but the increases will affect a greater number of medium-sized cities.

Around , to , homes will be built. The vacation rental market is still booming. Coastal housing will continue to monopolise the interest of small investors searching for profitability.

The possible intervention of the Public Administrations in order to control the rental price of housing will remain on the political agenda. More than 8 million Spanish homes await rehabilitation. One of the drivers of the sector will be renovating the aging Spanish residential parks. Trends in commercial property:. This, the most profitable real estate asset, stabilises. The return to investors of commercial premises will continue to be important, but will not grow as it has in the last few years.

In the first 9 months of it was 9. The flagship store grows. The big chains will continue to develop their brand experience in important locations in Madrid and Barcelona will continue to monopolise the market, but to a lesser extent.

The real estate retail in the medium cities will arouse more interest among investors. The online brands bet on the physical stores. There will be more pure online operators with a commercial presence on the street following the US trend where digital brands are planning to open physical stores in the next five years.

Thank you for your attention! For more information please contact the managers of our agency. It is our pleasure to assist you on a way to your dream!

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These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term.

Unfortunately, the INE and many commentators and analysts use both. There are discrepancies between the two for the simple reason they are not counting the same thing. On the other hand, the figures from the Property Registries reflect when that same purchase is inscribed in the registry.

And that may be weeks, or even months, later. A purchase completed in a November or December may not make it into the registry until the following year. Consequently, Q1 and Q4 totals can be very distorted. In addition, Q2 and Q3 can be affected by delays over the summer holidays. And we are not talking a few percentage points out of sync.

The Notaries counted , transactions in the first half of while, for the same period, Property Registries inscribed , purchases. And all because Notaries count when a deal is done and Registries count inscriptions. So, unless otherwise stated, the property statistics quoted in this report are those from the Notaries. I also post news on social media as it becomes available so follow The Property Finders on Twitter and Facebook.

And as statistics are published in early to reflect full year results for I will update this report regularly. Overall, unemployment in Spain continues to fall. It finished on Interest rates remain low. Euribor, which sets the interest rate for the majority of Spanish mortgages, registered another historic low in August but ended the year slightly better at The prediction is that it will remain negative throughout In addition, all autonomous regions registered price increases at some point during , although there were fluctuations.

However, the fact is that, in spite of minor improvements, not that much changed in And the signs are that is unlikely to be any different. Yes, unemployment is down. Nevertheless, at Overall, Spain has five of the ten worst unemployment black spots in the EU. Source: Eurostat. In fact, one third of the under 30s age group in Spain has never had a job. Meanwhile, in Germany the unemployment rate for the same demographic is an average 6. Yes, , new jobs in a year is impressive.

However, seasonal, temporary and part-time contracts still outnumber permanent ones by a big margin. For example, of the One of the reasons for these figures is that tourism is currently the biggest source of employment in Spain in , with Unfortunately, jobs in tourism tend to be low-skilled, low paid, temporary and seasonal.

While noting improvements in the economy since the previous report in it highlighted persistent structural problems hindering sustained recovery. It seems not much has changed. They were the same issues mentioned in the report, above all the dire unemployment figures. The reality is that Spain has never been close to full employment even for adults. Between and the average youth unemployment rate was Even in at the height of the boom it was Source: Eurostat So, in spite of several boom periods in that timeline, Spain has made little progress in improving job prospects for young people.

Inevitably, such insecurity spills over into the housing market. A recent report from the Bank of Spain suggests the domestic housing market will remain relatively weak for years to come. Instead, Spaniards have actually returned to income levels of the year And even worse, the wages of low-skilled youths have retreated further, to late levels. Now, at age 30, they earn less than year-olds did 10 years, ago and almost the same as year-olds earned 20 years ago.

In effect, two decades of purchasing power have been lost. In addition, there has been a similar regression regarding the salaries of skilled workers.

Source: Bank of Spain. And the signs have been there for a while. And it would have been even worse but for the fact that many buyers were already locked into off-plan purchases made before the crash. But the decline hit bottom in the second half of as foreign bargain hunters emerged. And the number of overseas buyers has increased every year since. Meanwhile, the domestic property market was still falling in When the first upturn was registered in , it was fully four years behind the overseas sector.

Life expectancy rose by ten years between and At 80yrs for men and 85yrs for women Spaniards have the highest life expectancy in the EU and third worldwide. Only Japan and Switzerland do better although only by a few months. The climate suits all tastes.

It ranges from four seasons with a proper winter and lots of snow in the north to the sub-tropical south. In fact, Spain has occupied the top spot ever the scheme began in This puts it in third place globally, behind Italy 54 and China Living well is affordable with food and drink prices below the E. Spanish cuisine is world-class.

Spain has three restaurants listed in the top ten restaurants in the world, more than any other country. Sports and outdoor enthusiasts are spoilt for choice. I said in the introduction to this report that, in spite of lots more good news, the market is still patchy.

Remember that these statistics only cover the first half of but I expect the full year figures will confirm the results so far. Cantabria welcomed just buyers from overseas in this period while Extremadura was the lowest with Then ask where the majority of those overseas purchasers buy for the explanation. And the same patchy recovery pattern occurs within regions as well.

And the same holds true for other regions as well. However, in the introduction to this report I highlighted the fall in the number of overseas buyers in the first half of Unscrambling the statistics shows 51, foreign nationals bought a property in Spain, compared with 53, in the same period in , On the other hand, when the first half of is compared with the second half of , the foreign buyer total actually rose by 2.

The decline in the Balearics is a bit more puzzling. One reason might be high prices. Also, Mallorca, the main market of the Balearics, has introduced very restrictive tourist rental laws and these may be responsible for the fall in overseas buyers.

Although not buy-to-let investors as such, many overseas buyers are keen to cover running costs via rentals when not in residence. In spite of so much negativity on the part of many commentators and market analysts, almost willing the British market to collapse to back-up their argument, it is proving remarkably resilient. The Germans were in 3rd place with 3, In market share terms the British made up However, these top 3 players all registered falls compared to the same period in There were In fact, there were only two groups from EU countries that increased, Ireland up 1.

Nevertheless, some nationalities showed strong growth but they were all non-EU citizens. Argentinians and Ecuadorians rose Buyers from the US rose Although there were fewer buyers from overseas spending per square metre was up in the most numerous nationalities. The Norwegians went mad and increased average spend per square metre by Only the Irish, Italians and Danes spent less than the same period in But the real big spenders in were from the US.

So, is the overseas market in Spain slowing down? Is demand falling? Is the supply side getting too big? Have prices risen too fast? Lots of questions and several answers, I think.

In the case of the British, I think currency weakness is partly to blame. If sterling strengthens throughout I think British buyer numbers will increase once again. However, I think there are other factors at play in the overseas market. In fact, I would go so far as to say that demand held up very well throughout , lots of people still wanting to buy a property in Spain.

For reasons I have never quite understood, foreign buyers are like moths to a flame if new-build is available, even when the location is inferior.

The fact is there is very little raw building land available in the very best locations, it was built on years ago. Consequently, it follows that much of the new-build activity is not in prime locations. However, since the recovery started the supply side of new apartments and houses lagged way behind demand. Inevitably, this imbalance skewed new-build prices, to an extent I believe was unsustainable. New may be nice but is it worth paying double, or even more, per square metre than a resale?

However, as more new-build projects come on stream, and the signs are that the pace is picking up, I think new-build prices will come under pressure. I predict buyers who purchased in early phases of some new developments will find their property is worth less than they paid by the time they get the keys.

In fact I think some buyers are paying such inflated prices for new build properties that they may never see a return on their investment no matter how long they hold it. At the height of the building frenzy in Spain approved building licences for , units. This figure was more than the UK, France and Germany combined. In reality, the construction industry was more or less wiped out. Nevertheless, building licence approvals have grown year-on-year since The final total will be published in Spring Meanwhile, although Q1 and Q2 figures indicated a slowdown numbers picked up again heading into Q4.

With two months still to count in , 91, permits had been authorised across Spain. However, the biggest increases in new permits are in the Mediterranean coastal regions, precisely those locations favoured by overseas buyers.

So the cranes are not spread evenly across Spain but are clustered in just a few regions and in just a few places within those regions. The same regional imbalances I highlighted earlier with regard to transaction numbers is duplicated in the construction sector. As the supply side improves one would expect prices rises to moderate even if demand holds steady. On the other hand, if demand is actually falling, then new-build prices will be under serious pressure.

One thing for sure, no developer goes into a project expecting prices to fall during construction. The assumption is always that prices will rise phase by phase. I think will give some of them quite a shock. Already, there are rumours circulating of developers delaying the launch of new phases as sales slow.

Lack of well-priced, top quality properties in prime locations is also a feature of the current resale market. However, available stock is more in balance with demand. In my experience they are much more likely to walk away than overpay. Look hard and there are still good deals available. However, I have a problem with many asking prices. I feel sellers assume that just because new-build prices have gone through the roof they can ramp up their asking prices to similar levels.

That assumption is incorrect in my view. As I started a search for a client at the beginning of I noticed that every house under consideration had been reduced from the original asking price. When over-optimistic sellers reduce asking prices to more in line with what the market can stand, they sell. And in price per square metre terms that will be way below new-builds prices.

Marbella, the sixth most expensive town in Spain, is a good example of the new-build versus resale price conundrum. At the start of a client was negotiating to buy a detached villa. With 5 bedrooms, m from the beach, walking distance to town, and with the contemporary look that is so in demand. Also at the beginning of I located a 2 bedroom townhouse, fully renovated to the highest of standards.

However, it too had reduced from the original asking price before a buyer emerged For the same clients, I have just added a beachfront apartment to the short list. When I am researching the market for my clients I always do the price per square metre calculation to help me come to a conclusion about the asking price. Property investment appears as a safe place for money, helped by low interest on Spanish mortgage rates, based mainly on the Euribor, now at While savings have not delivered any decent return for years, due to the same negative values.

Check the Official Euribor website for live updates and up to date information. Worried about investing in Spain after Brexit? Check our full guide and find the answer to all your questions. Lower economic growth is expected within Europe. Although Spanish economic growth is still above the European average, this will not cause extreme price increases in the Spanish housing market. Especially on the Spanish coasts, foreign home buyers are still the ones who account for a large part of the market.

Although the British market has been holding back waiting for the final exit from the European Union, the last election strong majority seems to be giving the so much needed confidence to the financial markets, as the rise in the pound showed immediately after the election result.

Buying a property in Spain after Brexit is becoming a realistic opportunity. Property Registrars numbers show an important growth in properties purchased in Spain by other european citizens like Scandinavians, Dutch, French and Germans. Check our selected houses. Even if many use their own family or friends' houses the amount of people renting privately is rapidly growing. Buying a holiday property comes with the added plus of being a source of good income, especially for those familiar with holiday rental platforms, such as Airbnb.

The demand for properties in Madrid and Barcelona is as strong as ever with prices now reaching a limit high, and profit more difficult to obtain in the medium term. Considering coastal areas such as Alicante and Malaga still remains the best option when purchasing a holiday home.

The winter climate in Alicante is by far the best in Spain with the exception of the Canary Islands, with good living standards and many Norwegian, French and British communities well settled in these areas. You can actually talk better about a stabilization of house prices in Spain. There is no reason or indication that house prices in Spain will fall in You can never exclude minor corrections.

Abrupt price falls as we have seen in the years and are no longer to be expected. This is partly supported by the low interest rates in Spain and Europe. Spanish agents are clearly more optimistic for But that will undoubtedly be for another reason.

I like to stay a bit more on the safe side. We hope our article helped you, share it with you friend in the links below. Volg Huizen In Spanje op social media. Twitter Facebook Instagram. How will the Spanish property market develop in ?

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210 m2 | 8 bedrooms | 7 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 4, - Without notarial, registry or evaluation activity, real estate transactions should be “close to zero” as long as current containment measures are. These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. After seven long years of house price declines, Spain's housing market only returned to growth in Spanish house prices had fallen by a total of % (

The property-owned housing market in Spain will face a moderation in its prices and the volume of sales in Experts highlight that price variations will continue to fluctuate according to geographic area and stress that there is a problem of accessibility to housing. The rise of prices both for buying and renting will be smoothed out.

The effect of the Mortgage Law, which has slowed down the sale and mortgages in , could begin to moderate. Now is a perfect time for lease, especially for young families. In essence, price growth slows down; rental prices are growing, interest rates in banks at historical minimum, negative Euribor.

After closing with over , construction permissions for the first time in 10 years, experts say that second-hand housing will continue to lead the market in the short term.

As we have seen in various studies, the construction of new properties will continue to grow during , with an estimate of 94, new homes, compared to 79, in This means a growth of All in all, experts suggest that is an excellent year to buy and perhaps not so good to sell. Although there are reasons to be alert, there are no warning signs, since the factors that can affect the real estate sector the most are quite stable: sustained growth of employment, recovery of wages, favourable financial conditions, steady demand and supply of housing construction.

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Looking for some nice property in Spain? See our latest property listing. Torre de la Horadada Complete city guide: location, weather, how to get there. Explore the Torre de la Horadada area, its beaches, museums and attractions.

Learn the history of the city. The best shops, restaurants and hotels. How much does it cost to buy a property there? Read more. Stay home, take care of your family! We are always in touch and ready to help you with buying or selling spanish property online. How can I protect myself from the coronavirus? Practical advice from Spain.

Detailed city guide: where is it located, how to get from Murcia and Alicante airports. Review of the best local beaches. History of the city, museums, and attractions. How much is the property in Pilar, what types of housing are available?

Real estate after COVID how the epidemic has influenced the Spanish real estate market, and how it is going to be in ? How does the market behave at the time of the epidemic? How will the price for real estate change when the quarantine ends? This article contains the expert opinions and our forecast. All you have to know about Santa Pola in Spain: nearest airport, weather and climate, the best beaches.

What to do in Santa Pola — explore museums, attractions, hotels, restaurants. Is it worth to buy a property there? Check the Official Euribor website for live updates and up to date information. Worried about investing in Spain after Brexit? Check our full guide and find the answer to all your questions.

Lower economic growth is expected within Europe. Although Spanish economic growth is still above the European average, this will not cause extreme price increases in the Spanish housing market. Especially on the Spanish coasts, foreign home buyers are still the ones who account for a large part of the market.

Although the British market has been holding back waiting for the final exit from the European Union, the last election strong majority seems to be giving the so much needed confidence to the financial markets, as the rise in the pound showed immediately after the election result.

Buying a property in Spain after Brexit is becoming a realistic opportunity. Property Registrars numbers show an important growth in properties purchased in Spain by other european citizens like Scandinavians, Dutch, French and Germans. Check our selected houses. Even if many use their own family or friends' houses the amount of people renting privately is rapidly growing. Buying a holiday property comes with the added plus of being a source of good income, especially for those familiar with holiday rental platforms, such as Airbnb.

The demand for properties in Madrid and Barcelona is as strong as ever with prices now reaching a limit high, and profit more difficult to obtain in the medium term. Considering coastal areas such as Alicante and Malaga still remains the best option when purchasing a holiday home. The winter climate in Alicante is by far the best in Spain with the exception of the Canary Islands, with good living standards and many Norwegian, French and British communities well settled in these areas. You can actually talk better about a stabilization of house prices in Spain.

There is no reason or indication that house prices in Spain will fall in You can never exclude minor corrections. Abrupt price falls as we have seen in the years and are no longer to be expected. This is partly supported by the low interest rates in Spain and Europe. One reason Spaniards cope so well living in flats is that they spend so much time outside them, taking advantage of the good weather to meet in town squares, parks and at their local bar. A survey by housing solutions provider Velux also found that Spaniards spent considerably more time outdoors each day than Britons.

Spaniards spend more time socialising outside the home than residents of many other European nations Credit: Getty. But living in flats can have its downsides.

Poorer quality flats will have smaller kitchens and fewer rooms as well as absorb the noise and smells from adjoining flats. She believes that growing perception of access to nature as a universal right, plus technological change, will be reflected in the homes of the future. One example: the rise in young freelancers who work from home.

The prolonged Covid confinement has forced people to look at their homes in a new light, adds Acha. And what about the eternal issue of noisy neighbours?

But if lockdown is revealing the worst aspects of apartment living, it is also showcasing the very best.

431,000
* €/m2
125 m2 | 1 bedrooms | 3 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about.

Without doubt an important factor in the recovery of the Spanish property market since the meltdown has been the growth of the overseas sector. International buyer numbers hit bottom in with only 34, over the whole year. In addition, international market share is now much bigger than previously.

In it represented 7. At the end of it was However, for the first time since , the notarial statistics do show a reduction in the number of foreign buyers when compared to the same period in , a decline of 3.

The question is, are we seeing a slowdown in the overseas market? Is it just a blip after five years of continuous growth or is it something more serious? Interestingly, the domestic market also declined in the first half of , down 2. However, this sector has performed very differently since the crash. By this time, however, the overseas market was already two years into recovery.

This report looks at who is buying what and where mainly from the perspective of the overseas market. I will show that market activity is patchy, concentrated in just a few regions. I will look at prices and my concerns about the amount of new construction in the pipeline. Supply in the new-build sector has gone from just a trickle a couple of years ago to a flood in The taps have been turned full-on and I think this is a worrying trend in the market. In addition, I will also cover factors that may impact the Spanish domestic market in I cite statistics and opinions from a variety of sources published throughout the year.

The Notaries produce the most reliable property market statistics. Consequently, I use those and ignore the Property Registries.

Unfortunately, the INE and many commentators and analysts use both. There are discrepancies between the two for the simple reason they are not counting the same thing. On the other hand, the figures from the Property Registries reflect when that same purchase is inscribed in the registry. And that may be weeks, or even months, later.

A purchase completed in a November or December may not make it into the registry until the following year. Consequently, Q1 and Q4 totals can be very distorted.

In addition, Q2 and Q3 can be affected by delays over the summer holidays. And we are not talking a few percentage points out of sync. The Notaries counted , transactions in the first half of while, for the same period, Property Registries inscribed , purchases. And all because Notaries count when a deal is done and Registries count inscriptions.

So, unless otherwise stated, the property statistics quoted in this report are those from the Notaries. I also post news on social media as it becomes available so follow The Property Finders on Twitter and Facebook. And as statistics are published in early to reflect full year results for I will update this report regularly.

Overall, unemployment in Spain continues to fall. It finished on Interest rates remain low. Euribor, which sets the interest rate for the majority of Spanish mortgages, registered another historic low in August but ended the year slightly better at The prediction is that it will remain negative throughout In addition, all autonomous regions registered price increases at some point during , although there were fluctuations.

However, the fact is that, in spite of minor improvements, not that much changed in And the signs are that is unlikely to be any different. Yes, unemployment is down. Nevertheless, at Overall, Spain has five of the ten worst unemployment black spots in the EU. Source: Eurostat. In fact, one third of the under 30s age group in Spain has never had a job.

Meanwhile, in Germany the unemployment rate for the same demographic is an average 6. Yes, , new jobs in a year is impressive. However, seasonal, temporary and part-time contracts still outnumber permanent ones by a big margin. For example, of the One of the reasons for these figures is that tourism is currently the biggest source of employment in Spain in , with Unfortunately, jobs in tourism tend to be low-skilled, low paid, temporary and seasonal.

While noting improvements in the economy since the previous report in it highlighted persistent structural problems hindering sustained recovery. It seems not much has changed. They were the same issues mentioned in the report, above all the dire unemployment figures. The reality is that Spain has never been close to full employment even for adults. Between and the average youth unemployment rate was Even in at the height of the boom it was Source: Eurostat So, in spite of several boom periods in that timeline, Spain has made little progress in improving job prospects for young people.

Inevitably, such insecurity spills over into the housing market. A recent report from the Bank of Spain suggests the domestic housing market will remain relatively weak for years to come. Instead, Spaniards have actually returned to income levels of the year And even worse, the wages of low-skilled youths have retreated further, to late levels.

Now, at age 30, they earn less than year-olds did 10 years, ago and almost the same as year-olds earned 20 years ago. In effect, two decades of purchasing power have been lost. In addition, there has been a similar regression regarding the salaries of skilled workers. Source: Bank of Spain. And the signs have been there for a while. And it would have been even worse but for the fact that many buyers were already locked into off-plan purchases made before the crash.

But the decline hit bottom in the second half of as foreign bargain hunters emerged. And the number of overseas buyers has increased every year since. Meanwhile, the domestic property market was still falling in When the first upturn was registered in , it was fully four years behind the overseas sector. Life expectancy rose by ten years between and At 80yrs for men and 85yrs for women Spaniards have the highest life expectancy in the EU and third worldwide.

Only Japan and Switzerland do better although only by a few months. The climate suits all tastes. It ranges from four seasons with a proper winter and lots of snow in the north to the sub-tropical south.

In fact, Spain has occupied the top spot ever the scheme began in This puts it in third place globally, behind Italy 54 and China Living well is affordable with food and drink prices below the E.

Spanish cuisine is world-class. Spain has three restaurants listed in the top ten restaurants in the world, more than any other country. Sports and outdoor enthusiasts are spoilt for choice. I said in the introduction to this report that, in spite of lots more good news, the market is still patchy.

Remember that these statistics only cover the first half of but I expect the full year figures will confirm the results so far. Cantabria welcomed just buyers from overseas in this period while Extremadura was the lowest with Then ask where the majority of those overseas purchasers buy for the explanation.

And the same patchy recovery pattern occurs within regions as well. And the same holds true for other regions as well. However, in the introduction to this report I highlighted the fall in the number of overseas buyers in the first half of Unscrambling the statistics shows 51, foreign nationals bought a property in Spain, compared with 53, in the same period in , On the other hand, when the first half of is compared with the second half of , the foreign buyer total actually rose by 2.

The decline in the Balearics is a bit more puzzling. One reason might be high prices. Also, Mallorca, the main market of the Balearics, has introduced very restrictive tourist rental laws and these may be responsible for the fall in overseas buyers. Although not buy-to-let investors as such, many overseas buyers are keen to cover running costs via rentals when not in residence.

In spite of so much negativity on the part of many commentators and market analysts, almost willing the British market to collapse to back-up their argument, it is proving remarkably resilient. The Germans were in 3rd place with 3, In market share terms the British made up However, these top 3 players all registered falls compared to the same period in There were In fact, there were only two groups from EU countries that increased, Ireland up 1.

Nevertheless, some nationalities showed strong growth but they were all non-EU citizens. Argentinians and Ecuadorians rose Buyers from the US rose Although there were fewer buyers from overseas spending per square metre was up in the most numerous nationalities. The Norwegians went mad and increased average spend per square metre by Only the Irish, Italians and Danes spent less than the same period in But the real big spenders in were from the US.

So, is the overseas market in Spain slowing down? Is demand falling? Is the supply side getting too big? Have prices risen too fast? Lots of questions and several answers, I think. In the case of the British, I think currency weakness is partly to blame.

If sterling strengthens throughout I think British buyer numbers will increase once again. However, I think there are other factors at play in the overseas market. In fact, I would go so far as to say that demand held up very well throughout , lots of people still wanting to buy a property in Spain.

For reasons I have never quite understood, foreign buyers are like moths to a flame if new-build is available, even when the location is inferior. The fact is there is very little raw building land available in the very best locations, it was built on years ago.

Consequently, it follows that much of the new-build activity is not in prime locations. However, since the recovery started the supply side of new apartments and houses lagged way behind demand. Inevitably, this imbalance skewed new-build prices, to an extent I believe was unsustainable. New may be nice but is it worth paying double, or even more, per square metre than a resale? However, as more new-build projects come on stream, and the signs are that the pace is picking up, I think new-build prices will come under pressure.

I predict buyers who purchased in early phases of some new developments will find their property is worth less than they paid by the time they get the keys. In fact I think some buyers are paying such inflated prices for new build properties that they may never see a return on their investment no matter how long they hold it. At the height of the building frenzy in Spain approved building licences for , units. This figure was more than the UK, France and Germany combined.

In reality, the construction industry was more or less wiped out. Nevertheless, building licence approvals have grown year-on-year since The final total will be published in Spring Meanwhile, although Q1 and Q2 figures indicated a slowdown numbers picked up again heading into Q4.

With two months still to count in , 91, permits had been authorised across Spain. However, the biggest increases in new permits are in the Mediterranean coastal regions, precisely those locations favoured by overseas buyers. So the cranes are not spread evenly across Spain but are clustered in just a few regions and in just a few places within those regions. The same regional imbalances I highlighted earlier with regard to transaction numbers is duplicated in the construction sector.

As the supply side improves one would expect prices rises to moderate even if demand holds steady. On the other hand, if demand is actually falling, then new-build prices will be under serious pressure. Furthermore, they expect foreign transactions to be much reduced over the next few quarters, as certain limitations on international movements could be maintained. In , real estate transactions fell by 3.

The declines are concentrated in the second-hand housing segment 4. The number of foreign buyers fell by 3. The British continue to top the list of foreign buyers in Spain, followed by the French and the Germans. The effects of COVID on the Spanish economy will be marked by the duration of the containment measures and their cost in terms of employment.

Spain is facing an unprecedented, although hopefully temporary, economic shock. Our preliminary calculations lead us to estimate a decline in GDP of 4. We estimate the unemployment rate will rise to In this environment, decisions on whether to buy a home will be postponed for 6 to 12 months, and some of the demand will disappear for longer.

This will mean a temporary imbalance between supply and demand. Completed homes would exceed , in and up from about 75, in In , house prices increased by 3. According to the real estate website Idealista, began with a fall of 0. Balance between supply and demand.

275,000
* €/m2
250 m2 | 2 bedrooms | 5 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. May 4, - Without notarial, registry or evaluation activity, real estate transactions should be “close to zero” as long as current containment measures are.

Trends Current real estate prices in Spain Spanish property price forecast for Spanish real estate market after Brexit Conclusion.

Are we going to face another real estate bubble? Is it better to buy property now or later? Will the real estate prices in Spain go down in ? Neither the amount of purchases, nor the prices or construction rate grew as they used to in recent years. Because we must bear in mind the fragmentation of the market, we will take a closer look at those parts of Spain that are of interest to foreign buyers. Although in December housing sales rose 1.

Nevertheless, sales once again exceed , transactions for the second consecutive year since Transactions with resale properties have dropped by 4. Meanwhile, operations on new homes increased 1. Even so, only Activity of foreigner buyers on the Spanish property market also slightly declined in , compared to from over 65, operations in , to just 63, transactions last year The part of the home purchase made by foreigners during was Comunitat Valenciana The British, French and Germans are still the main foreign buyers.

However, their weight on total transactions of British has continued to drop since the announcement of Brexit. As usual, the coastal provinces of Spain are of the highest demand among foreigners. Alicante In , the price of housing registered an increase of 7. Expert opinions on the Spanish property market. We expect the slowdown to continue in the residential market during , both in housing sales, prices and new construction. Thus, he foresees an "exhaustion of the expansionary cycle" in this market that he attributes to the economic situation.

What is the reason for the growth to slow down? On the one hand, due to the maturity of the cycle which the sector is entering throughout Europe and, on the other, the difficulties in accessing housing after the price growth that has happened in recent years.

In other words, since supply does not cover demand in specific places of Spain, such as the metropolitan areas of Madrid or Barcelona, it pulls prices up.

Still, at the same time, being so expensive, the market slows down due to lack of access, and as a result, the growth slows down. Real Estate compass. Are we approaching another crisis? For now, almost no one sees an economic crisis coming soon. In his opinion, the Spanish market has reached " a stable phase with moderate growth in prices and quite decent sales rates".

Nevertheless, a final prognosis can be made no earlier than June , when the impact of the economic slowdown after the pandemic will be obvious. Which innovations to expect? Advances in home automation and smart systems became the centre of attention among some big companies in the sector.

An example of this is smart lockers, which are gaining popularity in large cities. In a world of online shopping where still one of four home deliveries fail due to the absence of people at home, this innovative system appears as a real solution. These lockers are installed in common areas of buildings and owners can access it with a simple code or an app. Technology is revolutionizing and changing the sector. We cannot lose sight of sustainability.

Furthermore, they expect foreign transactions to be much reduced over the next few quarters, as certain limitations on international movements could be maintained. In , real estate transactions fell by 3.

The declines are concentrated in the second-hand housing segment 4. The number of foreign buyers fell by 3. The British continue to top the list of foreign buyers in Spain, followed by the French and the Germans. The effects of COVID on the Spanish economy will be marked by the duration of the containment measures and their cost in terms of employment.

Spain is facing an unprecedented, although hopefully temporary, economic shock. Our preliminary calculations lead us to estimate a decline in GDP of 4. We estimate the unemployment rate will rise to In this environment, decisions on whether to buy a home will be postponed for 6 to 12 months, and some of the demand will disappear for longer.

One of the reasons for these figures is that tourism is currently the biggest source of employment in Spain in , with Unfortunately, jobs in tourism tend to be low-skilled, low paid, temporary and seasonal. While noting improvements in the economy since the previous report in it highlighted persistent structural problems hindering sustained recovery. It seems not much has changed. They were the same issues mentioned in the report, above all the dire unemployment figures.

The reality is that Spain has never been close to full employment even for adults. Between and the average youth unemployment rate was Even in at the height of the boom it was Source: Eurostat So, in spite of several boom periods in that timeline, Spain has made little progress in improving job prospects for young people.

Inevitably, such insecurity spills over into the housing market. A recent report from the Bank of Spain suggests the domestic housing market will remain relatively weak for years to come. Instead, Spaniards have actually returned to income levels of the year And even worse, the wages of low-skilled youths have retreated further, to late levels.

Now, at age 30, they earn less than year-olds did 10 years, ago and almost the same as year-olds earned 20 years ago. In effect, two decades of purchasing power have been lost. In addition, there has been a similar regression regarding the salaries of skilled workers. Source: Bank of Spain. And the signs have been there for a while. And it would have been even worse but for the fact that many buyers were already locked into off-plan purchases made before the crash. But the decline hit bottom in the second half of as foreign bargain hunters emerged.

And the number of overseas buyers has increased every year since. Meanwhile, the domestic property market was still falling in When the first upturn was registered in , it was fully four years behind the overseas sector.

Life expectancy rose by ten years between and At 80yrs for men and 85yrs for women Spaniards have the highest life expectancy in the EU and third worldwide. Only Japan and Switzerland do better although only by a few months.

The climate suits all tastes. It ranges from four seasons with a proper winter and lots of snow in the north to the sub-tropical south. In fact, Spain has occupied the top spot ever the scheme began in This puts it in third place globally, behind Italy 54 and China Living well is affordable with food and drink prices below the E. Spanish cuisine is world-class. Spain has three restaurants listed in the top ten restaurants in the world, more than any other country.

Sports and outdoor enthusiasts are spoilt for choice. I said in the introduction to this report that, in spite of lots more good news, the market is still patchy.

Remember that these statistics only cover the first half of but I expect the full year figures will confirm the results so far. Cantabria welcomed just buyers from overseas in this period while Extremadura was the lowest with Then ask where the majority of those overseas purchasers buy for the explanation. And the same patchy recovery pattern occurs within regions as well. And the same holds true for other regions as well. However, in the introduction to this report I highlighted the fall in the number of overseas buyers in the first half of Unscrambling the statistics shows 51, foreign nationals bought a property in Spain, compared with 53, in the same period in , On the other hand, when the first half of is compared with the second half of , the foreign buyer total actually rose by 2.

The decline in the Balearics is a bit more puzzling. One reason might be high prices. Also, Mallorca, the main market of the Balearics, has introduced very restrictive tourist rental laws and these may be responsible for the fall in overseas buyers. Although not buy-to-let investors as such, many overseas buyers are keen to cover running costs via rentals when not in residence. In spite of so much negativity on the part of many commentators and market analysts, almost willing the British market to collapse to back-up their argument, it is proving remarkably resilient.

The Germans were in 3rd place with 3, In market share terms the British made up However, these top 3 players all registered falls compared to the same period in There were In fact, there were only two groups from EU countries that increased, Ireland up 1. Nevertheless, some nationalities showed strong growth but they were all non-EU citizens. Argentinians and Ecuadorians rose Buyers from the US rose Although there were fewer buyers from overseas spending per square metre was up in the most numerous nationalities.

The Norwegians went mad and increased average spend per square metre by Only the Irish, Italians and Danes spent less than the same period in But the real big spenders in were from the US. So, is the overseas market in Spain slowing down? Is demand falling? Is the supply side getting too big? Have prices risen too fast? Lots of questions and several answers, I think.

In the case of the British, I think currency weakness is partly to blame. If sterling strengthens throughout I think British buyer numbers will increase once again. However, I think there are other factors at play in the overseas market. In fact, I would go so far as to say that demand held up very well throughout , lots of people still wanting to buy a property in Spain. For reasons I have never quite understood, foreign buyers are like moths to a flame if new-build is available, even when the location is inferior.

The fact is there is very little raw building land available in the very best locations, it was built on years ago. Consequently, it follows that much of the new-build activity is not in prime locations. However, since the recovery started the supply side of new apartments and houses lagged way behind demand.

Inevitably, this imbalance skewed new-build prices, to an extent I believe was unsustainable. New may be nice but is it worth paying double, or even more, per square metre than a resale? However, as more new-build projects come on stream, and the signs are that the pace is picking up, I think new-build prices will come under pressure.

I predict buyers who purchased in early phases of some new developments will find their property is worth less than they paid by the time they get the keys. In fact I think some buyers are paying such inflated prices for new build properties that they may never see a return on their investment no matter how long they hold it. At the height of the building frenzy in Spain approved building licences for , units. This figure was more than the UK, France and Germany combined.

In reality, the construction industry was more or less wiped out. Nevertheless, building licence approvals have grown year-on-year since The final total will be published in Spring Meanwhile, although Q1 and Q2 figures indicated a slowdown numbers picked up again heading into Q4.

With two months still to count in , 91, permits had been authorised across Spain. However, the biggest increases in new permits are in the Mediterranean coastal regions, precisely those locations favoured by overseas buyers. So the cranes are not spread evenly across Spain but are clustered in just a few regions and in just a few places within those regions. The same regional imbalances I highlighted earlier with regard to transaction numbers is duplicated in the construction sector.

As the supply side improves one would expect prices rises to moderate even if demand holds steady. On the other hand, if demand is actually falling, then new-build prices will be under serious pressure. One thing for sure, no developer goes into a project expecting prices to fall during construction. The assumption is always that prices will rise phase by phase. I think will give some of them quite a shock.

296,000
* €/m2
289 m2 | 2 bedrooms | 3 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'. May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. Apr 27, - Spain's Real Estate Market Estimates That This Summer Will See Massive Price Slashes as Housing Bubble is on The Brink of Bursting. By.

It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us.

Please Paste this Code in your Website. Spain House Prices. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter. Compare Housing Index by Country. Spain Producer Deflation Deepens in April.

Spain Industrial Output Falls the Most since European Stocks Extends Gains for 4th Day. Calendar Forecast Indicators News. Current Prices, NSA. Construction Output. Housing Index. Home Ownership Rate. Mortgage Approvals. New Home Sales. Housing Starts. In , house prices increased by 3. According to the real estate website Idealista, began with a fall of 0. Balance between supply and demand.

Supply and demand could meet up in , with more than , homes completed. This compares with a structural demand of about , units per year , for home creation and about 30, purchases by foreigners. In , there could even be a shortage of supply, due to the delay in starting work scheduled for Economic recovery. Reduced financing cost. The stress rate is currently at The analysts forecast this low rate environment will continue in the coming years.

In Europe. In Spain. Home In Spain Housing prices could stabilize from supported by several factors. Housing prices could stabilize from and should be supported by several factors: Balance between supply and demand. Attractive rental yield 3.

913,000
* €/m2
108 m2 | 3 bedrooms | 6 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. How Real Estate Market in Spain looks like in ? Current prices by squire meters in all regions of Spain — Chart. Trends and experts'. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term.

Spain is facing an unprecedented, although hopefully temporary, economic shock. Our preliminary calculations lead us to estimate a decline in GDP of 4. We estimate the unemployment rate will rise to In this environment, decisions on whether to buy a home will be postponed for 6 to 12 months, and some of the demand will disappear for longer.

This will mean a temporary imbalance between supply and demand. Completed homes would exceed , in and up from about 75, in In , house prices increased by 3.

According to the real estate website Idealista, began with a fall of 0. Balance between supply and demand. Supply and demand could meet up in , with more than , homes completed. This compares with a structural demand of about , units per year , for home creation and about 30, purchases by foreigners.

In , there could even be a shortage of supply, due to the delay in starting work scheduled for Economic recovery. Reduced financing cost. The stress rate is currently at METRE from until , reaching an all time high of METRE in the first quarter of and a record low of METRE in the first quarter of This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Spain House Prices - values, historical data and charts - was last updated on May of Housing Index in Spain is expected to be Looking forward, we estimate Housing Index in Spain to stand at In the long-term, the Spain House Prices is projected to trend around METRE in , according to our econometric models. Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Click here to contact us. Please Paste this Code in your Website. Spain House Prices. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter.

211,000
* €/m2
112 m2 | 1 bedrooms | 8 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
May 6, - Will the house and commercial estate prices continue to rise? Let's have a close outlook for the Spanish housing market at the nearest future. These findings indicate there is still a long way to go before Spain's housing market is on firmer ground. Indeed, reports from analysts CBRE and the research. May 4, - Without notarial, registry or evaluation activity, real estate transactions should be “close to zero” as long as current containment measures are.

Spain House Prices - values, historical data and charts - was last updated on May of Housing Index in Spain is expected to be Looking forward, we estimate Housing Index in Spain to stand at In the long-term, the Spain House Prices is projected to trend around METRE in , according to our econometric models.

Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Click here to contact us. Please Paste this Code in your Website. Spain House Prices. In Spain, Housing Index is measured by the price of home ownership of the property market per square meter. Compare Housing Index by Country. Spain Producer Deflation Deepens in April. Spain Industrial Output Falls the Most since European Stocks Extends Gains for 4th Day. The declines are concentrated in the second-hand housing segment 4.

The number of foreign buyers fell by 3. The British continue to top the list of foreign buyers in Spain, followed by the French and the Germans. The effects of COVID on the Spanish economy will be marked by the duration of the containment measures and their cost in terms of employment.

Spain is facing an unprecedented, although hopefully temporary, economic shock. Our preliminary calculations lead us to estimate a decline in GDP of 4. We estimate the unemployment rate will rise to In this environment, decisions on whether to buy a home will be postponed for 6 to 12 months, and some of the demand will disappear for longer. This will mean a temporary imbalance between supply and demand.

Completed homes would exceed , in and up from about 75, in In , house prices increased by 3. According to the real estate website Idealista, began with a fall of 0. Balance between supply and demand. Supply and demand could meet up in , with more than , homes completed.

This compares with a structural demand of about , units per year , for home creation and about 30, purchases by foreigners.

228,000
* €/m2
137 m2 | 8 bedrooms | 2 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
Apr 27, - Spain's Real Estate Market Estimates That This Summer Will See Massive Price Slashes as Housing Bubble is on The Brink of Bursting. By. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about. This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term.

Other buyers include Swedes, Belgians, Italians and Chinese. The Golden Visa scheme, fully applicable since 30th September , has increased interest not only from the Middle East but also Asia and Russia. In the first half of , there were about approved Golden visa applicants , up An overwhelming majority of applicants choose real estate acquisition as a qualifying investment.

The Balearic Islands are especially attractive to foreigners with about one third of total demand coming from foreigners, mainly due to its white-sand beaches and sunny Mediterranean landscape. Of the autonomous regions and cities, Galicia registered the biggest increase in foreclosures of In contrast, foreclosures continue to decline in La Rioja Foreclosures were almost steady in Castilla y Leon , Balears , and Cantabria.

Residential building permits averaged , annually from to With home sales of about , units per year from to and completions of just 51, annually, it is believed that the housing glut has been finally corrected. In fact, some allege there is now a growing housing shortage. However construction activity is slowing again, after reaching a seven-year high in In November , the average mortgage rate in Spain was 1. However, there has been a continuous decline in the share of adjustable rate mortgages in recent years.

Despite ultra-low interest rates, the Spanish mortgage market continues to shrink. It contracted to about New home mortgages increased by a minuscule 0. Average apartment rents in Spain rose by 2. By autonomous region, Cantabria recorded the highest rent increase of In contrast, La Rioja 1.

In March , a new government decree regulating rental dwellings in Spain went into effect, in an effort to limit rent increases and expand tenant protection and rights. Among the major changes, the measure caps annual rent hikes at the rate of inflation within the contract period; extends the duration of the rental contract from 3 years to 5 years or 7 years if the landlord is a business entity ; and introduces a state benchmark index for rental prices that will be used to gauge the current state of the market.

The new law will be applied to new lease agreements signed on March 6, onwards. In January 23, , Spain became the second euro zone country to exit its international bailout program, after Ireland. The Spanish economy has consistently outperformed much of Europe since.

However, it has been a long, hard slog. The economy shrank by 1. In , the economy grew by a meager 0. The European Commission is even more pessimistic, projecting the Spanish economy to grow by just 1. Spanish unemployment fell to The total number of unemployed is 3. Inflation is expected to remain low at 1. Spain narrowed its budget deficit to around 2. The deficit is expected to fall further to 2. I know it might be quite early to tell but do you have any data about how the Spanish housing market is standing after Q1 and the COVID lockdown effects?

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Send Instructions. Tailor your overseas property investment strategy! Sign Up Already Subscribed? Get GPG fortnightly newsletters delivered to your inbox A quick summary of global real estate trends. The top 12 predictions for the Spanish housing market in coronavirus Covid updated. Only data and graphs from official resources. Everything is easier to understand in an Infographic : Full article below.

Want to hare this Image On Your Site? Simply add this code :. The Spanish property market has fallen to a standstill situation, as the rest of the economy in most European countries, although it is expected to resume activity during , as the coronavirus crisis follows its natural course. The recovery will be due to domestic demand by Spanish nationals and the holiday property market by European citizens. This could be one of the extraordinary measures that are now being implemented by the Spanish Government, to prevent that all new housing promotions suffer the consequences of a long term crisis.

VAT is applied to the property so the reduction would benefit all buyers, regarding their nationality. The foreign holiday property market might be subject to high and low fluctuations as the crisis progresses during this year, once the movement restrictions are lifted. Real Estate Agents are finding new innovative ways to keep customers interested and be ready to attract three types of customers, in an ideal scenario of a sudden rush in the property market:.

Assuming that interest rates remain low for the time being and there is a lack of alternatives to make a return, the flow of money that goes towards the property market will remain high. This will ensure stabilization of Spanish house prices in A good indicator of the evolution of the property market in Spain can be seen in the data showing the price per square meter.

This data can be used to forecast and predict the path of the Spanish housing market. As the graph below shows, the growth continues steadily into Our Properties in Spain. According to the European Commission, the growth prediction for the Spanish economy in is 1.

The unresolved political issues to be dealt with by a fragmented Parliament and the demands in Catalonia and the coronavirus Covid situation are factors that might influence the already weak global economy, in Europe and the rest of the world. The construction sector in Spain seems to be moving once again.

The supply of housing is still growing faster than the demand. This mainly applies to existing construction. There is much more housing supply on the market than the market can handle. The demand is growing slightly, but the supply is growing much faster.

That is because, during the Spanish property crisis, sellers have been holding on for years, waiting for better times to sell their property. New construction is relatively expensive compared to the existing constructions.

That is also the reason that it is difficult to sell new homes. And even in new construction, supply is growing faster than the potential buyers market can handle.

Do you know all the Spanish Property Taxes? Learn all about them in this 'easy to read' article. Property investment appears as a safe place for money, helped by low interest on Spanish mortgage rates, based mainly on the Euribor, now at

673,000
* €/m2
2. Spanish property news
284 m2 | 1 bedrooms | 9 bathrooms | Furnished | Parking place | Swimming-pool | Gardens
This will ensure stabilization of Spanish house prices in A good indicator of the evolution of the property market in Spain can be seen in the data showing the. The Spanish property bubble is the collapsed overshooting part of a long-term price increase of Spanish real estate prices. This long-term price increase has happened in various stages from up to The housing bubble can be clearly divided in three periods: –, In the period of —, the price of housing in Spain had risen about. May 4, - Without notarial, registry or evaluation activity, real estate transactions should be “close to zero” as long as current containment measures are.

Housing Index in Spain increased to METRE in the fourth quarter of from METRE in the third quarter of Housing Index in Spain averaged METRE from until , reaching an all time high of METRE in the first quarter of and a record low of METRE in the first quarter of This page provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Spain House Prices - values, historical data and charts - was last updated on May of Housing Index in Spain is expected to be Looking forward, we estimate Housing Index in Spain to stand at In the long-term, the Spain House Prices is projected to trend around METRE in , according to our econometric models.

Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. New may be nice but is it worth paying double, or even more, per square metre than a resale? However, as more new-build projects come on stream, and the signs are that the pace is picking up, I think new-build prices will come under pressure. I predict buyers who purchased in early phases of some new developments will find their property is worth less than they paid by the time they get the keys.

In fact I think some buyers are paying such inflated prices for new build properties that they may never see a return on their investment no matter how long they hold it. At the height of the building frenzy in Spain approved building licences for , units. This figure was more than the UK, France and Germany combined. In reality, the construction industry was more or less wiped out.

Nevertheless, building licence approvals have grown year-on-year since The final total will be published in Spring Meanwhile, although Q1 and Q2 figures indicated a slowdown numbers picked up again heading into Q4.

With two months still to count in , 91, permits had been authorised across Spain. However, the biggest increases in new permits are in the Mediterranean coastal regions, precisely those locations favoured by overseas buyers. So the cranes are not spread evenly across Spain but are clustered in just a few regions and in just a few places within those regions.

The same regional imbalances I highlighted earlier with regard to transaction numbers is duplicated in the construction sector. As the supply side improves one would expect prices rises to moderate even if demand holds steady.

On the other hand, if demand is actually falling, then new-build prices will be under serious pressure. One thing for sure, no developer goes into a project expecting prices to fall during construction. The assumption is always that prices will rise phase by phase. I think will give some of them quite a shock.

Already, there are rumours circulating of developers delaying the launch of new phases as sales slow. Lack of well-priced, top quality properties in prime locations is also a feature of the current resale market. However, available stock is more in balance with demand. In my experience they are much more likely to walk away than overpay. Look hard and there are still good deals available. However, I have a problem with many asking prices. I feel sellers assume that just because new-build prices have gone through the roof they can ramp up their asking prices to similar levels.

That assumption is incorrect in my view. As I started a search for a client at the beginning of I noticed that every house under consideration had been reduced from the original asking price.

When over-optimistic sellers reduce asking prices to more in line with what the market can stand, they sell. And in price per square metre terms that will be way below new-builds prices. Marbella, the sixth most expensive town in Spain, is a good example of the new-build versus resale price conundrum. At the start of a client was negotiating to buy a detached villa. With 5 bedrooms, m from the beach, walking distance to town, and with the contemporary look that is so in demand.

Also at the beginning of I located a 2 bedroom townhouse, fully renovated to the highest of standards. However, it too had reduced from the original asking price before a buyer emerged For the same clients, I have just added a beachfront apartment to the short list. When I am researching the market for my clients I always do the price per square metre calculation to help me come to a conclusion about the asking price.

I told him it was a bit late for that, the time for price comparisons was in , not The fact is, shiny new stuff never trumps location. Seems the developer has licence problems. However, buyers are already paying more than that per square metre just to get their hands on a new property.

However, in my view that will be because new-build prices retreat, not because resale prices increase markedly. There is a close link between rental yields in Spain and the health of the Spanish tourism sector. Currently, Spain is the second most visited country in the world. Obviously, some will have their own homes, or stay with family and friends, but that leaves a serious number of overseas visitors renting privately.

As a result, rental yields make letting a property in Spain an interesting option. There is high demand for both long and short term rentals. What used to be considered luxury items, such as free wifi, flat screen t. There is just as much demand for smart two bedroom apartments in the right location. I thought property price rises would squeeze yields. In all cases, location and interior finishes are key. It seems likely that demand for short-term holiday rentals is only going to increase. In , just before the global meltdown, Spain welcomed 59m overseas visitors, an all-time record.

At the end of the annual total had fallen to However, a decade later, the statistics show the 83m barrier broken for the first time. In fact, at There are also signs that improved marketing to pitch Spain as a year-round destination is paying off.

In the three winter months, January through March, showed the biggest monthly increases while the three summer months were either flat or decreased slightly. This indicates there is improving rental potential throughout the year and not just in the traditional high season summer months.

Analysis of the tourism statistics indicates that the decline of foreign tourists in high season was the result of the recovery in cheaper package-holiday destinations such as Tunisia, Morocco and Egypt rather than fewer high-end tourists. And the very high demand for the most expensive rental properties seems to bear this out. The most important thing, in my view, is that there are no losses at the top of the market. It is vital that the quality sector continues to grow.

When I am working for a client whose brief requires reliable rental income I target certain areas and ignore others. In addition, I search for a type of property and reject others. Get the location wrong, even by just a few kilometres and income may be halved. As well as pinpointing the right location in a particular area you need to be in the right region because some have legislated against short term holiday lettings, pressured by the powerful hotel lobby and disgruntled locals.

So, if rental income is a requirement of your buying plan then check the legislation in that autonomous region because there are differences. But the days of leaving a set of keys at the local bar and crossing fingers that no emergencies will arise are over. My blog here explains more.

Obviously, the principle reason for this is that Spanish banks were drowning in bad debts and new mortgages were scarce.

Only a massive bail-out from the European Central Bank prevented widespread collapse. One of the first questions I ask potential clients is whether they they are cash buyers or if they need finance. I do this because I believe it is better to get an indication of borrowing potential before I start a property search. When the answer comes back that they are cash buyers I always ask if they are aware of the fixed rate mortgages currently available in Spain.

Most are not. However, once they knew all my recent clients who had intended to buy with cash have opted to take the maximum they could borrow. Euribor is the interest rate which fixes most Spanish mortgages and it has been in negative territory since February After falling month on month throughout it closed the year slightly up from the historic low of It now stands at In the recession fixed rate mortgages disappeared from the market.

Indeed, the majority of international buyers are opting for fixed rate over variable rate loans. My advice to cash buyers, irrespective of the currency, is to protect their capital and take a Spanish mortgage. There are many products to chose from with fixed terms from 5 — 25 years, interest rates from 2. There are a lot of variables, such as country of residency, amount required, location of purchase.

However, there are no restrictions on nationality or purchase price. A good broker is essential. Status is scrutinised very carefully but in general the process is straightforward and quick. In the case of some of my clients we have even had banks competing for the business.

It noted that Spanish banks are highly exposed to real estate sector developments and may underestimate the speed at which house prices and relaxed lending criteria can gain traction.

Also in December , I noted warnings from valuers about the spectre of overvaluations creeping back into the market. The loan is then offered on whichever is lower, the valuation or the property price.

They may be only a warning flag but they may also be the first signs of something more serious. Even more reason then for buyers to be very cautious, particularly in the new-build market. It is essential to do the research and compare asking prices for new property with comparables in the resale sector.

Look at peak prices prior to the crash and ask yourself if you should be paying even more than that now. Lots of soft focus life-style images, very seductive, but better to check the price per square metre and ask if it makes sense.

However, if you buy at the right price, Spanish property is still relatively affordable. The sun continues to shine and the quality of life is rated one of the best in the world. The lack of high-quality inventory at the right price in prime locations will be an issue throughout As far as the overseas market is concerned that means the Mediterranean coasts, the Balearics and the Canaries.

My advice to buyers in is do not obsess about new-builds, especially if not located in prime positions. Many are not. Consider equivalent resales, calculate the price per sq. Then you can take an informed view on what makes the best financial sense. The result will almost certainly be a lower price, a bigger property and, most important of all, a superior location.

A thorough search can still uncover some real deals although they will be harder to find in Nevertheless, there will always be some sellers more motivated and realistic than others. If there is a mobile mast in view assume there will be more as the tendency is for them multiply.

Electricity pylons are also a big no-no. We can assume new housing will increase in the medium term. Already, in some areas I can count twenty cranes while standing still.

If there is vacant land nearby find out with absolute certainty what, if anything, can be constructed. The selling agent saying it is green zone is just not good enough. Why risk losing a fabulous view? And finally, when I am assessing properties for my clients I always ask the following questions. If circumstances change and they need to sell quickly is the price right to enable them to do that? Secondly, is this a property for which there will always be demand irrespective of market conditions?

And that is that there will always be demand for top quality in prime locations. It always has been, still is and always will be about location. And I, for one, will be waiting for the full-year number of overseas buyers in with even more interest than usual. That statistic will tell us a lot. I update this Spanish Property Market report throughout the year as new data becomes available. You can also follow us on Twitter and Facebook for the latest news as it happens. Still in recovery mode from the meltdown, the Spanish property market faces more turmoil in the wake of Covid The signs were there at the end of Now the 1st half year statistics seem to confirm a downward trend.

Overseas demand in Spain in Will it be up, down or flatlining? All intellectual property in the design, images and text of this website are and will remain the property of The Property Finders. Any infringement of our rights will be pursued vigorously. GDPR - We guarantee the personal data entered in the contact form will only be used for the purpose of replying to your enquiry and will not be shared with any other company, service or provider.

Spanish Property Market Introduction Without doubt an important factor in the recovery of the Spanish property market since the meltdown has been the growth of the overseas sector. Where the numbers come from The Notaries produce the most reliable property market statistics. But there are always buts However, the fact is that, in spite of minor improvements, not that much changed in Where is the Action?

Regional Variations And the same patchy recovery pattern occurs within regions as well. The Supply Side At the height of the building frenzy in Spain approved building licences for , units.

The Price per Square Metre Conundrum Marbella, the sixth most expensive town in Spain, is a good example of the new-build versus resale price conundrum. Rental Yields There is a close link between rental yields in Spain and the health of the Spanish tourism sector.

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Statistics and prices of properties with pool in Spain

Prices are going up in this area.

Average price in this area: 1,219 €/m2

The cheapest property in this area: Rent to own detached house in Alcobendas, 0

The most expensive property in this area: Hotel for sale in Nueva Andalucía, Marbella, 65,000,000 €

Cheapest areas: Aragon, Castile and Leon, Estremadura

Most expensive areas: Melilla, Balearic Islands, Andalusia

Prices are going down in the areas: Madrid, Andalusia, Canary Islands.

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