The number of residential properties sold across Spain in January remained almost unchanged compared to the same month last year, thanks to a rise in new home sales.
A total of 42,850 home sales were inscribed in the Land Registry in January, compared with 42,745 the year before, according to the latest figures from the National Statistics Institute (INE).
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Spanish property prices rose by 5.7% in December to €1,459/m2, one of the highest figures reached throughout the whole of 2018, according to the Spanish notaries.
As well as rising house prices, the property market also saw positive increases in property sales and mortgage activity. Read more »
Spanish mortgage activity rose in November but the amount of money borrowed on the average residential mortgage dropped, along with the number of housing purchases.
A total of 21,698 mortgages were constituted on residential housing during November, representing a rise of 3.5% from the same period in 2017. Meanwhile, the average loan capital fell by 1.8% to €133,892, the first year-on-year decline in nine months, and property sales fell by 3.6% to 47,254 units. Read more »
In 2018, the number of people officially out of work in Spain dropped by 6.17%, from the year before, to reach the lowest rate of unemployment since 2009, according to new data released by the Spanish labour ministry.
Since reaching a peak of over 26% in 2013, Spain’s unemployment rate has been steadily falling following strong economic growth; by the end of 2018, unemployment figures stood at 3.2 million – although this shows significant improvement, the figure is still the second highest jobless rate of any eurozone country, after Greece. Read more »
Luxury Villas in The Heights, La Resina – Click image for details
Spanish property prices are predicted to grow in 2019 along with the number of property sales.
The Spanish property market recovery is set to continue this year, with prices rising between 5% and 7%, forecasts leading property valuation firm Tinsa. The firm already confirmed that nationwide house prices rose by 5.6% year-on-year in November. Read more »