Friday, 10 April 2015

Transfer of Property Rights February 2015

February Sales Figures

Data out this week shows that property purchases in Spain continue their upward trend.

Year on year residential transfer of ownerships are up over 15%. Overall total transfers were only up 5% as other types of trasnfer types and commercial property sales remained stagnant.

Dwelling sales made up over 65% of all sales and only the Canaries when looking at areas attractive to overseas buyers showed a decrease in the month.

Sales in February were lower than January by 11% but this is a normal trend when looking over the last 5 years. Only in 2011 were there more sales in the month of February than January so the data should not casue any concern that an improving sales market will not continue.

Sales by Region

Andalucia as normal had the most property sales within the month and Cataluna, Madrid, the Balearics and Valencia all performed well.

Increased activity from buyers in Spain looks set to continue through 2015 as prices have bottomed and the Euro remains under pressure against other currencies.

Other Titles

One slighty worrying statistic is that the amount of property transfered under the heading of other titles includes where Banks have taken over property from defaulted mortgage holders remaines a very high percentage of overall transfer of ownership. This area is equivalent to 30% of the amount of home sales and some 19% of all property transfers.

Read the full article: Purchases of homes in Spain

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