Spanish House transfers

Numbers of homes changing ownership 

August figures as issued by the INE in Spain show that the number of dwellings changing hands in Spain has increased year on year for another Month.

Sales of homes increased by over 20% against the same month of the previous year although dropped back in numbers form Julys figures. Whilst August sales were lower than Julys this is a normal trend. Only once in the last 5 years has August outsold the month of July.

Mortgage facilities

Spanish Banks have improved their loan offerings to non resident borrowers which is just as well as the housing recovery is being led by an increase in foreign buyers. This can be evidenced by the fact that regionally those with the highest absolute sales and those with the highest increases over last year are all the well known Holiday Home spots for those looking to own a property in Spain. 
Andalucia leads the way in terms of absolute numbres of homes sold with Mallorca and the Balearics leading the way in percenatge increase year on year.

Best Region

Murcia which up until now has lagged behind other areas due to a high level of vacant and surplus property, bank reposessions and falling prices bounced back in August and was up over 49% on the year before.

Resales

Resales outsold New Build sales and New Build sales continued to suffer as has been the case throughout 2015. Private sellers seem to be offering better value for money and in general due to valuation levels are easier to maximise loan facilities on.

Read the full article.- Property transfers in Spain