Insight into the Spanish property market, guides to help you make informed decisions, and a directory of real estate professionals and home service providers from a source you can trust.
This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional. Buying and selling property in Spain is not a decision to be taken lightly, and you may find it much easier to buy than sell if you don’t take care. In this market it is crucial to do your own research, and don’t rely exclusively on people who are trying to sell you something – let’s just say they might not have your best interests at heart. Spanish Property Insight is the only independent source of information and analysis of the Spanish property market. Don’t even think about buying or selling property in Spain without subscribing to Spanish Property Insight.
A new Observatory for Socioeconomic issues set up by Spain’s notaries quantifies the toll taken by the crisis on the Spanish housing market.
With increasing signs the Spanish property market is bottoming out after seven years of contraction, the ‘Socioeconomic Reality Observatory’ set up by the General Council of Notaries has quantified the toll taken by the crisis on the Spanish housing market, and by implication society.
Peak to present, home sales have fallen more than half since 2007, the blowout year of the boom, and house prices have slumped by more than a third, on average.
Sales have gone from 854,000 per year in 2007, to 365,000 last year, a decline of 489,000 (57%).
The average price of a homes in Spain has gone from 2,000 €/sqm in 2007, to 1,272 /sqm today, a decline of 36%.
The housing market crash has left many Spanish households in negative equity, stuck in homes they can’t sell without realising big losses, whilst an estimated half a million or more have lost their Spanish homes to repossession. Family balance sheets have been hammered, leaving society feeling poorer, and the end result is where we are today – a country with higher debts secured against impaired collateral, and an economy still struggling to recover from the distortions of the real estate boom.
At least beleaguered Spanish property owners can take comfort from the news that house prices have stabilised in the last couple of years, and sales have started growing again, up 19% last year. New mortgage lending was up 43% last year, in another sign of improvement.
Everything you need to know about property in Spain
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