Property prices increase for the first time in six years

According to the Second hand property sale price index (IPVVR in Spanish), which is produced by the Land Registry using Case-Shiller method, year-on-year rate experienced an increase of 0.97% during the second quarter of 2014.

Compared to previous quarter and in accordance to said report, property value increased 1.53%, and as mentioned by Spanish Registrars, “this is the confirmation of an emerging change of general trend”.

Within the scope of Spanish Autonomic Jurisdictions, Andalusia registered the higher number of transactions (15,583), followed by Cataluña (11,980), Valencia (11,591) and Madrid (10,522).

This way, a new all-time low record is reached for transactions registered in the last 12 months, with a total of 310,864.

During the first six months of 2014, 161,486 purchase and sale transactions were registered. This was a record of non-resident purchase and sale operations.

Along the second quarter of 2014, 13.03% of real estate acquisitions were carried out by non-resident buyers, achieving an all-time high record. British buyers maintained their traditional first position with 15.77%, followed by French (10.11%), Russian (8.08%), German (7.53%), Belgian (7.26%) and Swedish (5.93%) buyers.

 

Source: El Mundo

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