Thursday, 11 June 2015

News for housing market Spain

National Statistics Office Spain

This week the INE National statistical Office in Spain published two reports relating to the performance of the housing market in Spain.


The first related to the House Price Index. The HPI is a measurement of  what is happeing to prices as set against a base year of 2007. Up until the 2nd quarter of 2014 this had been dropping as the market fell. Since 2014 we have seen small but never the less sustained increases.

The first quarter of 2015 did not perform as well as the last quarter of 2014 and fell back by 0.60% the index however remains 1.5% above the base so house prices against the base are no longer falling.

Prices by region and sales type

Regional differences show that prices are more stable in general in the regions that alos have international buyers as well as the domestic market. It is also the case that new build prices are rising and resale prices seem to still be falling. These two factors skew the overall results.

House sales

The second report related to actual sales in the Month of april as registered as a transfer of property ownership at Land registry. It is most likely this will relate to actual sales in February this year.

Again significant regional differences applied and whilst sales were up on the same month of the previous year sales were down from March this year. Whilst this pattern is normal it does suggest we are only seeing in Spain a steady upturn in buisness rather than a flood of activity.

Data outcomes

Sales of new builds are down and now only account for one quarter of all sales of homes in Spain. It is therefore somewhat suprising that developers have chosen this moment to put up prices for buyers in Spain and they may be a little ahead of the curve.

Sales by region also seemed to reflect where prices had risen the most sales are now under pressure.

The market is better and things have stabilized but we still have some way to go before we can be sure this is going to be sustained without any backward steps.  

Read the full article :- Housing market data in Spain