Spanish Property Sales Increased 9.8% - Properties Prices in Marbella rising due to the high demand

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Latest report shows Spanish Property sales increased 9.8% in 2015, on second hand homes…
The transactions on second hand homes remained upward and is confirming the residential market stabilization after the severe crisis in the sector. Spanish Property sales increased 9.8% in 2015, on second hand homes, with 401,281 sales and purchases, nearly 10% more than in 2014. The operations of existing homes were accounted for 87% of total sales, with 352,319 units. According to the Ministry of Public Works, it is the best data given since 2010 and the first that overcomes the barrier of 400,000 sales in the last five years.

The fourth quarter left the best thing of all 2015 (114.598 sales) 2.37% year – over and the highest in the last three years, from late 2012, when the government of Mariano Rajoy claimed the deduction for the purchase of the first home . Between October and December 2012 134.601 operations that they were closed.

The housing market continued to drive second – hand residential transactions. Its 352,319 transactions, accounted for 87% of total purchases and increased 13.3% more than in 2014. Only in the fourth quarter, existing homes totaled 100,723 operations, the best quarter for second-hand houses from the second 2007.

Meanwhile, new homes fell by 10.7% over last year to stay at 48,962 units, according to statistics of housing transactions the Ministry of Development.

The growth of almost 10% in the number of closed transactions is good news for the market that confirms 2015 as the year of normalization in large areas of Spain. However, we expected a larger number of transactions and quarterly data indicated that could well exceed four hundred thousand. However, in the fourth quarter there was a slowdown in purchases probably due to the pre – election period and uncertainty about the formation of the new government. However, the different speeds of the housing standards are confirmed: in 8 autonomous regions the growth of sales and purchases exceeded double digits the rest more houses than in 2014 except Castilla La Mancha, where fewer homes were sold were sold in the year above.

The lack of new homes in Marbella, due the voidance of the 2010 general urban planning, will push the prices of second homes even higher…  So, If you are searching for the latest property listed in Marbella, do not take too long, as the high demand for Marbella luxury property and the Costa del Sol keep pushing the prices higher and higher every month, so if you would like to buy your luxury property in Marbella and the Costa del Sol before prices get too expensive, please do not hesitate to fill the form on Contact Us or give us a call on+34 952 811 010 Today!

 

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