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In 2018, Spanish property prices grew by 7.8%, compared with a 5.1% growth rate the year before, according to real estate portal Fotocasa.
The property market recovery is still somewhat sporadic across the country – Madrid experienced house price increases of 19.5%, while prices in regions such as Murcia dropped by 3.3%. However, experts are forecasting a slowdown in market activity in regions that were quick to join the recovery, which should spark some upward movements in less thriving areas. Read more »
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Spain’s Supreme Court makes yet another ruling on who should be responsible for paying mortgage tax.
Just when we thought the Spanish mortgage tax fiasco was over, the Supreme Court has just introduced yet another legislation regarding the Impuesto Sobre Actos Jurídicos Documentados (AJD) – a tax paid on certain mortgage documents signed before a notary – overruling the new law introduced by the government last November. Read more »
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Spanish house prices rose considerably faster than EU and Eurozone averages during the third quarter (Q3) of 2018, latest figures from the EU’s statistics bureau Eurostat show.
During Q3, average property prices in the EU rose by 1.6% and by 1.5% in the Eurozone, compared with a 2.2% rise in Spanish house prices. Quarter-on-quarter, the most significant house price increases were in the Netherlands (3.3%) and Croatia (2.8%) while prices dropped in Italy (-0.8%) and Romania (-0.7%). Read more »
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The upward trend in residential property sales continued throughout the month of November with growth accelerating in less expensive areas of Spain.
A total of 42,150 residential properties were sold across Spain in November, representing a rise of 2.8% on the same period in 2017, according to new data published by the government’s central statistics unit. Read more »
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Foreign visitor numbers in Spain rose to over 4.5 million during November, with the UK representing over 20% of the total.
Despite a rather stagnated summer in terms of the amount of foreign tourists visiting Spain, especially those from the UK, numbers are just about on track to surpass the 82 million reached in 2017 to become the 6th consecutive year of rises. Read more »