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December 17, 2013

Real Estate Markets in Spain for the third quarter of 2013

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Real Estate Markets in Spain for the third quarter of 2013

Real estate in Spain has risen for the first time since 2010, according to quarter indicators. The leading real estate portals suggest that for the third quarter of 2013 the value of property in Spain increased by 0.7 %. During the second quarter of 2013 decline in property prices in Spain reduced its pace and even stopped.

Increased cost as of a new one, and of the secondary property, by 2.3% and 0.1 % respectively. Top Spanish property portals such as Fotocasa and Idealista, has published statistics on enhancing the value of property in Spain.

This week began with the main new in all Spanish mediums. Experts are actively talking about revitalizing the real estate market in Spain. Compared with the previous quarter for the third quarter of 2013 the price of houses and apartments in Spain increased by 0.7 %, the first positive data from the second quarter of 2010, according to the National Statistics Institute (INE). This phenomenon was a continuation of the previously launched trend, in the second quarter of 2013.

Namely, in the second quarter the cost of real estate has ceased to fall as rapidly as before, that was the basis for sector specialists to talk about the resumption of activity in the property market in Spain. For the second quarter of 2013 real estate value dropped to 0, 8%, compared with 6.6 % the first quarter. Now we can say that the real estate price indices returned to positive values. It happened as for the secondary, so with a new property in Spain, 0.1% and 2.3% respectively. Clear signs of recovery of the Spanish real estate market start to be shown.

If we talk about inter-annual indicators to compare the data for the third quarter of 2013 to the third quarter of 2012, in this case, the value of property in Spain has decreased, but this decrease was 4 points lower than a year earlier. Thus, the decline was 7.9% and it is the lowest level since the third quarter of 2011.

Property market experts say that in 2014 we can expect only a slight decrease in prices for real estate value and it is more probable the increasing of it.

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