Housing market sees a real turn around

June 16, 2014 in Alta Vista Property Spain, Altavista property, AltaVista Property Marbella, www.altavistaproperty.com by Michael Liggan

 

Las Mimosas de Puerto Banus - Altavista Property

The Spanish real estate sector begins to show signs of stabilization. After more than five years of sharp declines in sales and prices and the collapse in mortgage lending, the market begins to catch its breath.

According to the latest data from the General Council of Notaries, during April more homes  were sold, prices rose slightly and mortgage lending grew.

Specifically, housing sales experienced an increase of 11.1%. “The rebound in recent months would be explained, in part, by normalising the number of operations after completion of the deduction for home purchase at the end of 2012, but also reflects some stabilization of monthly sales” point notaries.

House prices are rising, housing loans are expanding and stimulating that price growth. In terms of prices, the average price per square meter for homes purchased in April was 1,216 euros, reflecting a slight increase of 0.7%.

Thus, last April, again a recovery was recorded in terms of annual housing purchases and prices that could be anticipating a turnaround in the sector.

In light of the growth of transactions the mortgage market is recovering. Mortgage loans for the purchase of a property in April rose 21.5%.

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