Property transfers decreased 4.5% in January

The National Institute of Statistics (INE) has released statistics for the Transfer of Property Rights in January 2012, showing a 4.5% decrease over the previous month.

The number of property transfers recorded in the land registries, from public deeds previously registered, was 151,186 in January, that is, 4.5% less than for the same month in 2011, and 31.4% more than in December 2011.

In the case of registered merchantings of property, the number of transfers was 71,623, representing an interannual decrease of 18.6%, and an increase of 42.3%, as compared with the previous month.

Merchantings recorded in the land registries

86.2% of the registered merchantings corresponded to urban properties and 13.8% to rustic properties. Among the urban properties, 53.6% were merchantings of dwellings.

The number of merchantings of rustic properties increased 10.6% in the interannual rate in January, while that of urban properties decreased 21.9%. Within the latter, merchantings of dwellings decreased 26.3%.

Registered merchantings of dwellings, by protection system and status

86.2% of transfers of dwellings by merchanting in January were free housing, and 13.8% were protected housing. In interannual terms, the number of transfers of free dwellings by merchanting decreased 28.1% and that of protected dwellings decreased 12.7%.

54.1% of the dwellings transferred by merchanting in January were new, and 13.8% were used. The number of transactions on new dwellings decreased 17.5%, and the number of used dwellings decreased 34.5%, as compared with January 2011.

Geographical distribution

In January 2012, the total number of property transfers recorded in the land registries per 100,000 inhabitants¹ was highest in the Autonomous Communities of La Rioja (742), CastillaLa Mancha (690) and Castilla y León (676).

The Autonomous Communities showing the highest number of registered merchantings of property per 100,000 inhabitants¹ were La Rioja (365) and Castilla-La Mancha (329).

By registered merchantings of dwellings, the Autonomous Communities in which the number of transfers per 100,000 inhabitants¹ was highest was La Rioja (148).

59.5% of merchantings of dwellings in November 2011 were recorded in four Autonomous Communities: Andalucía, Cataluña, Comunidad de Madrid and Comunitat Valenciana.

The full report can be downloaded here: Statistics on Transfer of Property Rights – Jan 2012

¹ This data was calculated from the revision of the figures of the Municipal Register for the year 2011. Only the population aged 18 to 84 years old was considered.

Property sales figures lowest since 2006

According to reports from the housing department in the Ministry of Public Works, property sales in Spain fell in 2011 by 29.3%, in terms of volume.

There were 347,305 registered property transactions in 2011 which is the lowest level recorded since the crisis began. It is a fall of 64% since the peak in 2006 when just short of one million property transactions were recorded.

During the fourth quarter of 2011 there were 105,560 property sales in Spain, representing an increase of 37.9% from the previous quarter but, more importantly, a decrease of 29.9% over the same period in the previous year. It is the first quarterly figure to top 100,000 transactions, following three consecutive quarters below this figure.

In the autonomous regions Andalucía recorded the highest number of sales with 67,018, closely followed by Valencia with 48,028, Madrid  with 45,020 and Catalonia where 44,961 properties were sold. Madrid, Barcelona, Alicante and Valencia recorded the greatest increase in sales.

In terms of sales to foreigners, by province, Alicante came out on top with 2,532 sales, followed by Málaga with 1,158.

Of the Q4 total, 43,974 sales were for new homes, representing 41.7% of the total, leaving 61,586 resale properties, 58.3% of the total.

For the full year, new housing accounted for 126,840 transactions, 36.5%. Resale properties made up 220,465 sales, accounting for 63.5% of the total transactions. This data shows that since 2008, the second-hand housing market has achieved some stability, with annual transactions over 220,000.

Property sales fell in 2011

The National Statistics Institute have released data showing a decline in the number of property sales in 2011.

Despite a good start to the year when sales figures showed a slight increase the year finished with 17.7% fewer sales than the previous year.

The total sales figure stood at 361,831, with 49% for sales of new properties and 51% for resale properties. This is a decline of 19.7% (177,236 transactions) for new dwellings and a decline of 15.7% (184,595 transactions) for resales.

In 2011, the total number of property transfers recorded in the land registries per 100,000 inhabitants was highest in the Autonomous Communities of Castilla y León (7,428), and La Rioja (6,839).

In Andalucia there werea total of  255,554 property transfers which represents 3,881 per 100,000 inhabitants. Overall 60% of the countries merchantings of dwellings were in the regions of Andalucía, Comunidad de Madrid, Comunitat Valenciana and Cataluña.

Of the total transfers in Andalucia 72,412 were for the transfer of dwellings, much higher than Madrid which followed with 49,194 transfers. Valencia was next with 48,198 transfers, and Cataluña with 47,118.

Nationally there were an average of 960 transfers of dwellings per 100,000 inhabitants.

You can see the full report here: Statistics on Transfer of Property Rights Year 2011 and December 2011.

Increase in sales to foreigners

Statistics from the Ministry of Public Transactions has shown an increase in the number of Spanish properties sold to foreigners. Figures showed an increase of 24.7% in the third quarter of the year, compared to the same period of 2010.

Alicante was the top of the list for the number of property sales to foreign buyers with 2,097 sales. They were followed by Malaga with 951 and Barcelona with 607.

Sales and Marketing director at Taylor Wimpey España, Marc Pritchard, said: “The increase in property sales to foreigners in the last quarter of 2011 shows that many buyers have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations.”, the Olive Press reported.

Mr Pritchard went on to say “It is looking likely that prices in Spain will begin to increase by the end of 2011 with places like Tenerife and Malaga seeing property values improve signaling good news for the Spanish real estate market next year,”.

With low interest rates on savings accounts and low property prices it seems the crisis isn’t yet deterring the buyers completely.

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Optimistic signs for Spanish property

Property prices in Spain are dropping, tax on new build property is down by 50%, sales numbers are climbing and tourism numbers are at record levels – could this be the end of Spain’s holiday homes slump? For the first time international investors have overtaken domestic buyers.

Property agents all over Spain have noticed an increase in inquiries, viewing trips and sales as buyers watch prices fall.

TINSA’s August House Price Report noted an accumulated drop of 23.5% since it’s peak in late 2007. In the more popular areas excessive supply has pushed prices down by around 30%, while some repossessed properties have been selling at up to half the book value, with those in the best locations selling out first.

Overseas buyers are currently buying up to 1,000 properties a day in key areas like the Costa Blanca, Costa del Sol and Ibiza. Up to half of these sales are from Spanish banks or cash-strapped developers.

 

Second Quarter Figures Show 22% Increase in Sales

Latest figures released last week by the central Government show 90,746 property sales in Spain in the second quarter of 2011.

Many real-estate analysts and agents say it is overseas buyers that seem to be driving the market forward.

Mark Stucklin, founder of spanishpropertyinsight.com, said ”Economic and political uncertainty, with unemployment over 20 per cent and general elections in November, are making Spaniards wary about buying primary residencies, let alone holiday homes and much hope is being pinned on foreign buyers coming to the rescue.”

Among the provinces Malaga has the second highest figure for sales to foreigners with 1,110 homes sold to overseas buyers in Quarter 2. Alicante registered the highest number of sales to foreigners.

Estate agent Jeanette Wilson said ”Cash-rich buyers, especially those looking to buy at the top end of the market, are able to purchase properties 35 to 40% cheaper than they were three years ago. I’d say if you can afford to buy now you should as it’s thought prices will start to creep up again soon.”

In a survey carried out by ‘A Place in the Sun’ magazine last year, more than 60% of potential British buyers would consider Spain proving that Spain is still a favourite destination for Britons.

Steve Dibden, a Brit who recently bought a Spanish property said “My friends and I were holding fire and have been watching prices steadily come down since 2008, but now, thanks to the property crash, we’ve been able to afford a pad that previously would’ve been a serious stretch for us. Many people in our situation are now thinking that the time is right to look for a property in Spain. In real terms, prices are at an all time low in many areas so it’s the ideal time to go for it.”

A Place In The Sun – Europe’s Largest Overseas Property Show

Europe’s largest overseas property show opens NEXT week.

At the NEC arena in Birmingham from 30th September to 2nd October 2011.

At A Place in the Sun Live you will be able to look at hundreds of overseas properties from agents based in Spain, France, Bulgaria, Turkey, Cyprus, Greece, Portugal… plus many more!

There will be a busy schedule of seminar sessions, all free-to-attend, in dedicated theatres where you will receive advice on buying property in France, Florida and Portugal.

Tickets to A Place in the Sun Live are on sale now. Book in advance and get two tickets for £15.

An anticipated audience of between 4,000 and 5,000 consumers who have either paid to attend or been invited because they have searched for international property on leading property websites.

View the current exhibitor list here.

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