Spains Housing Price Index
The following information is supplied by the National Institute of Statistics (INE) for the fourth quarter of 2009.
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The following information is supplied by the National Institute of Statistics (INE) for the fourth quarter of 2009.
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Recently there was a good article by José García Montalvo in the Spanish daily El Pais, discussing the present state of the Spanish property market, and asking what will determine the scale of the adjustment underway. Here is a summary of the article by García, a professor and real estate expert at Barcelona’s Pompeu Fabra University.
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According to Pedro Pérez, the general secretary of the G-14 (association of Spanish developers) the sale of newly built property has started a mild recovery, and this position will be consolidated in the coming months. Backing this up, the latest INE (Spain statistics institute) statistics showed an increase of 7.6% in inter-monthly sales, with over 20,000 sales in September.
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I have just found these ten tips on how to help sell your property, written by Nick Snelling, the author of “How to sell your Spanish property in a Crisis”. I have included links below.
1. Treat the selling of your Spanish property with the same seriousness and commitment that you would a job of work
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The latest quarterly property index has just been released by Spain’s Statistics Institute (INE). I have included all the pertinent information from the document below.
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According to Spain’s national institute of Statistics (INE) the collapse in property sales may be coming to an end. Based on the latest figures from July (link below), there were a total of 37,079 property transactions in the month, of which 33,694 were standard sales and 3,345 were social housing (VPO).
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Recently the Prime Minister of Spain, José Luis Rodríguez Zapatero, announced that by 2011 mortgage relief for those earning more than 24,000€ will be stopped. After originally reading the article Zapatero and Common sense I have had time to do a bit of research on the topic and Spain does not seem to be alone in this ‘gesture’, with countries like Ireland having implemented similar measures recently.
I have just reviewing a range of official statistics (Registro de Propiedades, INE, etc..) have compiled a brief analysis on how the Spanish property market fared in 2008. As can be imagined sales are down (surprised?), but not all appears to be doom and gloom.
As you can imagine in recent months we have been approached regarding repossessed apartments, townhouses and villas throughout the Costa del Sol. Where can they be found, whether we had any, etc…
I’ve just finished reading an article on the time.online about property in Spain and it actually made me laugh out loud. As with most media these days hyperbole and sensationalism to be the name of the game.
Well in a positive sign of future development projects the Junta the Andalucia has approached the European Investment Bank (EIB) to seek funding for the Costa del Sol train network that will connect Fuengirola to Estepona.
Well the property market is definitely getting interesting now with all sorts of properties coming onto the market at very competitive prices. We are finally seeing a return to the ‘real’ market prices that could be found prior to 2004.
Of course if you look into the statistics supposedly prices have returned to their 2006 figures, but with all due respect to those who compile the stats, this is in our opinion slightly optimistic.
First and foremost, before I go any further I just want to wish all my readers a Felices Fiestas! Hope you have had a very merry Christmas and here’s to a great new years.
Ok now for the boring stuff. Below I’m going to review how the property market has been and what we can expect from 2009.