House sales rise in line with Mortgages increasing in Spain

INE data

The INE in Spain published the transfer of property rights data for June yesterday.

The data taken from land registry shows that across all transfers of properties there was a significant rise when compared to June of last year. Buying in Spain for many years in the doldrums is now motoring ahead.

Resales and new builds

The sale of dwellings, one of the most important sectors was up 17% with total sales exceeding 30k thousand. Of the sale of homes 21.7% were new builds and 78.3% were resales. Developers continue to have a hard time in the market place with most buyers seeing resales as providing better value for money. 

Whilst sales of new builds were up by slightly on May of this year in total year on year they were down 30.6% whilst the sale of used homes were up year on year by 44.5%.

Increasing sales

With an increase of 3.8% over May of this year June 2015 was the first June in over 5 years to show positive growth between the two months.

International Mortgage Solutions SL who have operated in Spain since 2002 supported the data stating that May and June of 2015 were the best two months for loan completions in over 7 years and both months were up over 70% on the previuos year.

By Region

Regions most attractive to non resident buyers all had the highest absolute level of sales, some of the highest percentage increases and the most sales per 1000 registered residents, supporting the fact that foriegn investment in holiday homes and houses in Spain is on the increase again.

Sales are being helped by a weak Euro, low Euribor rates, lower interest rates being charged by Spanish Banks and prices for houses appearing to be at the lowest they are likely to fall.

Read the full article :- House sales for Spain in June