Spanish Housing Market News, January 2015

Spanish Housing Market, Quarterly and Annual Changes, Latest Reports

Please find below the latest figures of the European Union Statistical Office, Eurostat regarding house price changes in Spain compared to the EU and the Eurozone:

House Price Changes; Source: EurostatChange compared to previous quarter, %Change compared to the same quarter of the previous year, %
2013201420132014
Q4Q1Q2Q3Q4Q1Q2Q3
Spain-1.3-0.31.70.2-6.3-1.60.80.3
Eurozone (provisional)-0.8-0.20.90.6-1.8-0.500.5
EU (provisional)-0.40.31.41.1-0.40.91.72.3

House prises in Spain have risen for the second consecutive quarter, both year on year and also compared to the previous quarters. The general outlook is that house prises in Spain have bottomed out and are stabilising, or even rising.

The IMF has published a cluster report this month analysing housing price trends in several European countries. It also comes to the conclusion that house prices in Spain are now likely to start going up.

The Spanish Sociedad de Tasacion has published a Spanish Real Estate Trend Report, investigating sentiment in the different regions of Spain. The overall conclusion is a more optimistic outlook with regards to property sales and prices. Resales have been faring better than new homes, a trend that might continue for a while, even though the construction sector in Spain has started to show signs of recovery as well.

The Valencian Community which includes the province of Castellon and the Costa Azahar is shown to be among the provinces with especially positive outlook and confidence. Possibly the new airport at Castellon which has finally opened has also played a role.

Estate agents on the Costa Azahar are reporting increased interest from UK buyers, not only due to the better housing data, but also because of the slump of the Euro compared to the British Pound. At its worst one Pound gave you little more than one Euro, whereas it has now surpassed 1.30€, making an immense difference when purchasing a property.

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