Lifespain – Property In Spain

Higher prices for Spanish property in February, many home buyers in Spain may have noticed a change in pricing. The fact is that at the beginning of the year for the first time last year the real estate market has occurred prices, which may indicate a return to the life of the sector. According to the latest house prices have risen by about 0.6%. The largest price increase occurred in the provinces of Catalonia and Roihi, where the cost real estate increased by 4.6% and 4.5% respectively. If we talk about other areas of Spain, in Valencia figures moved to 2.2% in Asturias – 2% in the Balearic Islands accommodation has risen in price by 1.9% in Aragon – 1.4%, Galicia – to 0 9%. Most Minor changes have occurred in Madrid. Here, prices have risen to the objects of 0.7%.

At the same time the price index for real estate, according to the appraisal company Tinsa, at the end of the month decreased by 5.5% over last year, although the data figures should not be treated with full faith. The fact that these figures were obtained based on theoretical estimates, rather than the actual cost of housing. But even though the results presented, Tinsa also shows growth prices for Spanish property and confirms the general trend of slowing price declines. Nevertheless, activity in the property market in Spain still remains low. According to figures provided by the National Institute Statistics in recent months, the number of transactions declined.

To date, compared with 2007, home sales fell 27%, which is largely due to the crisis situation. But if you compare the figures in December 2008 and 2009 years, the decline was only 1%. Mark Staklin, head of real estate portal in Spain, explains the situation that, in December 2008, the market went into a deep crisis and now, by comparing the data of the current period, with those figures, the situation will not look so bad. "When the Spanish property market collapsed, all the transactions of purchase and sale fell through faster than the building, whose exponents were higher, although normal market conditions, all the way around. " According to experts, this year of the sale of housing in Spain can again catch up with the construction of new facilities. But it all depends on the banks on their willingness to provide Loans wishing to buy property in Spain. In any case, according to Chris Mercer, head of real estate Mercers, we can say about the return of the real estate market of the country to life. The main thing that the seller agreed to sell housing at adequate prices, then there is a buyer quickly. In addition, this period is favorable for investors who can buy housing at competitive prices for subsequent lease. For example, property in Jerez can be purchased for 70 thousand euros and take it to 450 euros per month, thereby returning about 8% of the cost of housing. At the same time rent payments can be an excellent foundation to pay for mortgage loans. Source: LifeSpain.ru