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Spanish property prices end the year lower than they started!
Despite starting the year well with property prices rising in all Spanish regions, 2007 has ended in December with prices 0.28% below where they started in January. According to Facilisimo.com, the region of La Rioja has been the worst affected, dropping 11.08% to 2159€/m2 , Madrid and Barcelona haven't avoided the falls dropping 2.38% to 3479€/m2 and 3.05% to 3777€/m2 respectively.The region of Andalucia has fared slightly better closing the year 2.95% above where it started in January: 2,070€/m2 - 01.01.07 to 2,130€ /m2 - 01.01.08. However prices have dropped 2.34% since 01.08.07. Marbella, the focal point for the Costa del Sol hasn't fared too badly either with prices overall higher than the beginning of the year (2.45%) but dropping off 2% since it's highpoint of 3,197€/m2 at the end of July down to 3,133€/m2.
The results of a survey by Facilismo say that 68.41% of Spanish citizens believe the current goverment to be at fault. 62.09% believe that prices won't drop anymore and 66.28% say they would still buy instead of renting. However certain analysts think that the current redressing of prices is a necessary market correction. If prices continue to drop up to a further 10% in 2008, they will be back at the level of 2005.
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The number of houses sold is up. The number of mortgages granted is up. The number of foreign buyers is up. The number of new construction projects is up and yes, in some key areas, the prices are starting to go up too.
After a seven year slide...06/09/2014
The newly elected Partido Popular (Conservative) party has introduced a raft of measures relating to the under-performing property market. These measures are directed both at stimulating certain sectors of the market and generating extra tax revenue.08/01/2012
In an unexpected move on Friday of last week, the Spanish government decided to slash VAT on the purchase of new property from 8% to 4%. Applicable immediately, this discounted tax measure will last until the end of the year -31st December 2011.24/08/2011
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The Euribor, which is linked to the Central European Bank's base lending rate, is set to close the month of December at 3.47%.28/12/2008
Against the trend of bad news in the financial markets, the Euribor fell again to 4.381% (22.01.08). This is well below the rate at the end of 2007 where the rate had spiked to 4.79%.28/01/2008
Despite starting the year well with property prices rising in all Spanish regions,2007 has ended in December with prices 0.28% below where they started in January. According to Facilisimo.com, the region of La Rioja has been the worst affected, dropping 11.08% to 2159€/m2 , Madrid and Barcelona haven't avoided the falls dropping 2.38% to 3479€/m2 and 3.05% to 3777€/m2 respectively. 05/01/2008
The Euribor, the Central European Bank's base lending rate, is set to close the month of November at 4.60%.02/12/2007
The Deutsche Bank have issued a report on the Spanish economy entitled Spain 2020, the success story continues.22/11/2007
Resale property prices have fallen for the third consecutive month in thirteen Spanish regions including the province of Malaga.22/11/2007
Fantastic new property investment just released in the Dominican Republic. This product, previously only available to the Spanish investment market is now available through Garratt Homes.22/11/2007
Situadas en la privilegiada Marbella, en la zona de Cabopino, esta viviendas residenciales de alta calidad y orientadas al sur, gozan de unas fantásticas vistas al mar. Los amantes del golf pueden también elegirlas con vistas a Cabopino Golf (Par 71). Los precios standard oscilan entre los 415,000€ y los 515,000€. Estas maravillosas viviendas de lujo pueden comprarse a un precio increíble que va desde los 350,000€ a los 415,000€.22/11/2007
The Euribor, the Central European Bank's base lending rate, is set to close the month of October at 4.65%.30/10/2007