New Spanish government figures point to gentle housing market recovery
Figures released by the Housing Department within the Ministry of Public Works show that expats living in Spain spent 36% more on property in the first half of the year than they did in the same period last year.
According to the same source, foreign residents buying homes in Spain spent a total of €4.2 billion on Spanish property in the first six months, compared to €3.1 billion last year.
The majority of this expenditure, 88%, was on resale property, totalling €3.7 billion, up 43% compared to last year. In contrast, investment in new property fell by 2% to €469m.
According to Spanishpropertyinsight.com, the Valencian Community attracted biggest share of expatriate investment, around €1 billion, of which €889 million went to Alicante, home of the Costa Blanca. Next came Andalusia (home to the Costa del Sol) with €975 million, and Catalonia (home to the Costa Brava), with €817 million.
Amongst foreign buyers, those who were resident in Spain bought 25,602 homes, up 23% compared to the 20,839 purchased in the first six months of 2013.
Non-residents buying second homes increased by 12% to 2,065.This increase in demand is reflected in a slow but steady recovery in enquiries for international mortgage funding, with a spokesman for UK based international mortgage brokers Offshoreonline.org commenting, “We have certainly seen an increase in enquiries for Spanish euro mortgages, with buyers coming both from the UK and abroad, especially the Far East. Spanish banks are once again dipping their toes in the water and providing a buyer has a 30% deposit, some attractive financing deals are available.”
According to estate agents Lucas Fox, sales volumes are picking up both regionally and nationally in Spain, with areas such as Barcelona showing a more optimistic, former market. Nationally, transactions have risen from around 150,000 per annum to around 250,000 per annum. At least a third of offers are now producing sales, with buyers becoming far less speculative and more long term in nature.
« Back to News
Latest News
- Green shoots appearing in UK property market, good news for expat house buyers
- UK Housing asking prices see smallest February increase on record
- Optimistic signs in expat buy to let market as mortgages rates fall and prices stabilise
- Expat UK property investing: Three positive signs, thinks broker
- Expat buy to let market still strong after two rate rises, says broker
- Recovery and strength in the UK housing market for 2022?
- Expat broker optimistic on post Covid UK buy to let housing market
- Broker warns over mortgage payment holidays
- Buying UK buy to let property after lockdown – expats will have the upper hand, thinks broker
- Expat lenders react to keep expat mortgage deal flowing during COVID-19 crisis
- Coronavirus impact on UK housing might be short lived, thinks expat mortgage broker
- Getting a mortgage whilst living abroad or getting a mortgage after you have moved abroad.
- What Happens when my UK Expat Mortgage Expires?
- Buy to let bargains abound, thanks to Brexit effect, thinks broker
- Expats increasingly vulnerable to new build deposit loss
- UK house hunters lead 6% growth in French non-resident property transactions
- Expat Buy to Let Mortgage Rates Cut Again
- Brexit fears give expats the edge, as UK buyers shun property
- Mortgage tax changes in Spain help buyers
- Expat mortgage broker predicts banks will not pass on full Base Rate rise to mortgage holders.
- Falling Expat Mortgage Interest Rates and Weak UK Housing Market Favour Expat Buyers
- UK property beats pensions, says UK official study
- Taxes for UK expat landlords might not be so hard after all
- Why a sinking pound need not scupper your French property dream
- Is it time to add UK university fees to your expat mortgage?
- Resurgent Spanish property market prompts new mortgage launches
- The new landscape for UK property investors – still good value
- New UK Buy To Let Rules Will Impact Expat Property Buyers – 2017
- UK rent rises continue to outstrip inflation, expat buy to let remains popular
- UK Stamp Duty hike not as harsh as first feared for expat property buyers
- Do I qualify for expat or international mortgages?
- Brexit need not harm the expat mortgage market, thinks Offshoreonline
- UK stamp duty changes, capital gains tax changes will impact expat buy to let investors, so start planning your checklist now
- Booming London property rents continue to attract expat buy to let landlords
- New UK Stamp Duty Won’t Dent Appeal of Buy To Let Mortgages For Non UK Residents
- QE spells heaven for overseas property buyers in Europe
- Thinking about buying a house in 2015? For expats, the signs are good
- UK property prices on the up in 2015 good news for expat buyers
- UK Stamp Duty changes – the winners and losers
- French expat euro mortgage rates fall again
- New house price index to make life easier for French euro mortgage house buyers
- New Spanish government figures point to gentle housing market recovery
- Buyers forced out of London by spiralling property prices have helped fuel a 10% annual rise in asking prices in the south-east – a rate that has now outstripped inflation in the capital.
- UK student loans – plan now for flexibility
- Landlords enjoying “record income from letting
- French euro mortgage rates fall again
- Mortgage lending up as UK house prices settle
- Brit buyers bounce back!
- Thinking of buying a house in France? Prices have just dropped 10%
- Fixed rate UK international mortgage demand to rise, as regulator confuses
|