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.
The Spanish real estate sector may be recovering, but activity is still 80% lower than it was in 2004 finds a study by the appraisal company Euroval, based on an index incorporating all the key indicators of activity.
Euroval looked all the main indicators of economic activity in the Spanish real estate sector, such as mortgage approvals, construction investment and income, and property sales, and used them to create a composite index with a base year of 2004 quantifying the sector’s change in economic activity over time, broken down by region (see chart above).
However imperfect, the results help illustrate how dramatic the Spanish property crash has been, and that we are still nowhere near normal. At a national level, activity is still 80% below where it was in 2004, which wasn’t even the peak year (that was 2006). At least the sector has recovered from 13% of its former self in 2014, to 20% today.
The results also help show how unequal the recovery is proving to be. Whilst the sector in the Balearics has recovered to 45% of 2004, in the Valencian Community the sector is still 87% smaller than it was in 2004.
Was 2004 a ‘normal’ year, and therefore a good benchmark for the sector? Not at all. The sector was already overheating by 2004, though how much depends on the region. 2004 was the peak year for Andalucia, which started to deflate in 2005, whilst Murcia increased another 62% by 2006, all according to Eurovals analysis.
You probably have to go back to 2000 or before to find a normal level of activity for a country with a population and housing stock the size of Spain. But whatever normal is, we’re still a long way from it on the downside.
Everything you need to know about property in Spain
Login or Register to read articles without any adverts in the text.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.