Tuesday, 19 May 2015

March house sales increase slowly

March sales of homes continue a year on year upward trend.


Sales of property in Spain increased in March according to the data issued by the statistical office.

The bulletin reports on the transfer of all property rights as provided by the Notaries and Land registry in Spain.

The data includes all transfers so not just sales of homes but sales of commercial property and land and includes other transfers such as those changing ownership by way of inheritance, donations and bank repossessions.

Sales of homes increased against March of last year by 2.1% but were down on the month of February of this year. Whilst sales were down from February apart from last year, which was a blip, this followed the normal selling and buying pattern for the relevant months.

Who is buying and where

Buyers are made up of Spanish Nationals and foreign investors and the data does not seperate these.

The normal areas most attractive to international buyers did not however have the best months ever.

Whilst as normal Andalucia had the most absolute sales of dwellings at 22,582 homes the region was in fact down by 2.1% on last year. The Canaries and the Balearics both again havens for foreign buyers were down by 8.1% and 21% respectivley. 

New build volumes drop

New house sales were down by 40.9% whilst used homes or resales were up 32.8% and protected housing up over 8%.

New build pricing has been increasing over the last few months and this could be having an affect on  volumes.

Will UK pension changes help Spanish sales 

Changes in the pension rules in the UK starting in May this year should increase the traffic of UK buyers for holiday homes and rental. This was evidenced at the Place in the Sun show in Olympia last week.

Potential buyers are taking a more measured approach to the buying process and sellers and legal advisers can expect to be asked far more detailed and pertinent questions before making a commitment than has been true in the past.

Read the full article :- Buyers in Spain increase in March