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May 20, 2014

Valuation of prices of real estate in Spain

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Valuation of prices of real estate in Spain

Spanish notaries, who compulsorily register all real estate transactions in the country , estimated that housing prices in Spain fell by 32.7 % since 2003. In addition , according to published by notaries data, the cost of houses and apartments fell by 1.7 % in the first quarter of 2014 , but increased by 0.84 % compared with the previous quarter . In the first quarter of 2014 has been committed 14.42 % more purchases of real estate in Spain than in the last three months of 2013. At the same time, 54.56 % of the transactions were carried out with the secondary housing.

Spanish real estate continues to fall in price, but this fall month after month decreases in intensity. Statistics of College of Notaries of Spain are to official evidence. While housing prices in Spain fell in the first three months by 1.7 % compared with the same period in 2013, but they increased by 0.84 % compared with the previous quarter . Thus, the evolution of real estate prices, according to notaries, seems to confirm a trend reversal to constantly decrease , which was dominated by the Spanish property market the last few years .

The trend to higher prices for houses and apartments have been yet registered at the end of last year , namely the period from October to December last year , when prices fell by 5.35 % year on year , but increased by 0.91 % compared with the previous three months . Most striking is the general decline in property values in Spain during the economic crisis , which amounted to 32.7% , causing that prices are currently at the level of year 2003.

With regard to sales transactions in the period from January to March 2014 , the total reported number was 83.022 , which is 14.42 % more than in the last three months of last year .

Autonomous regions of Spain with the highest number of registered transactions in real estate have been Andalusia (16,336) , Madrid (13,026) , Catalonia (12,190 ) and Valencia Community (11,996).

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