Spanish Property Sales Reach 18-Month High

7.04% of nothing is just that.
Why bother to try and talk up the property market when evry sign is that it is terminally ill and like to remain in convalescence for the forseeable future.
Any self-resecting government will use all its powers to \PREVENT a return to the bad old days of unsustainable ‘boom’. A word of unfortunate associations when large bubbles burst…

I would like to know, how many houses sold, as percentages can disguise the figures. Ie, one house sold in 1st 1/4 of 09, then
3 houses sold 1st 1/4 of 10, so sales are up by 200%????????

How is the market looking in La Herradura, Granada Costa?

how is the market looking north of Mojacar?

nice one jim l’ll total agree with your comments to the so call increase by %, and not by figures

Well, looking at the data from the Ministry of Housing, in Q1 2009 they recorded 93,095 property transactions (excluding subsidised housing).

In Q1 2010, they recorded 96,155. I make that an increase of 3.2% – but then again it’s a different source than the College of Registrars.

It’s also not useful claiming an increase in Q1 2010 figures from Q4 2009 because the market definitely has seasonal trends.

Out of interest, the Ministry of Housing data showed Q4 2009 as the busiest quarter since Q2 2008 recording 117,685 property transactions.

These figures lack transparency. Talking up the market will not help the Spanish economy, and will further raise even further-suspicion of agents whose reputation is already seen as a stumbling block to progress.

I’ve tracked down the source of the original data which can be downloaded here: http://www.registradores.org/principal/ficheros/estadreginm/ERI_1t10.pdf – analysis and translation coming up.

Here’s a (bad) google translation of the press release accompanying the college’s Q1 2010 report. Interesting that their figures for the number of transactions are substantially different to those published by MVIV – We’ve asked them why and will report back ..

07/06/2010
The Association of Registrars of Spain presented the Statistical Yearbook 2009 of the Real Estate Registry and the first quarter of 2010

The College Registrar, through its Center for Statistical Process with the usual expertise of the research team at the University of Zaragoza, presents the results of the first quarter of 2010 and the Statistical Yearbook 2009 of the Real Estate Registry, whose data highlights were:

FIRST QUARTER OF 2010

NUMBER ENROLLEES house sales

The number of registered housing purchases and sales during the first quarter of the year was 117,911, an increase of 16,510 over the previous quarter, representing an increase of 16.28% in terms of quarterly comparison. This volume of sale is the highest in the past year and a half, breaking the downward trend of previous quarters.
The buying-year closure of the first quarter of 2010 were 430 871, resulting in a decrease of 15.01% yoy. Direct comparison of quarterly results (first quarter of 2010 versus the same quarter of 2009) shows an increase of 7.04% in the number of trades, a situation not occurred in recent years.
All regions except Madrid, show negative annual rates, showed higher percentage Castilla – La Mancha (-31.92%), Canarias (- ¬ 26.46%), Andalusia (-20.91%), Murcia (-20.71%) and Extremadura (-20.24%). The Madrid rises in a 1.42% annual rate.

HOUSING SALES DISTRIBUTION

Of the 117 911 recorded purchases and sales during the quarter have fallen to 60 740 and 57 171 new housing to housing use. With the previous quarter represent increases of 15.66% in new housing and housing 16.95% used. The results of the first quarter of 2010 show the slow and gradual recovery of used housing relative weight: 48.49% of total purchases and sales.
51.51% of new housing that correspond to the 45.22% have been free and the new home new home 6.29% protected. The latter are a total of 7419 new home purchases and sales of protected, representing 12.21% of new housing. During the last twelve months, new home purchases and sales registered 24 535 have been protected, which accounts for 10.70% of the total sale or purchase of new housing. Consequently, the relative weight for the sale of subsidized housing increases with the passage of the quarters, not unusual in a cycle as the present.

AVERAGE AMOUNT OF CREDIT MORTGAGE ON HOUSING

The indebtedness on account of mortgage loans for housing has kept pace down (0.66%), but within a process of moderation decreases, reaching the € 120,979 and € 120,721 last year. The highest average amount was granted by banks (€ 134,305), followed by savings banks (€ 114,263) and other financial institutions (€ 107,784). With this decrease build up seven consecutive quarters of reductions in mortgage debt per household, reaching an annual rate of -11.92%, producing the respective positive effects on conditions for access to homeownership.

CONTRACTED IN INTEREST RATES ON HOUSING MORTGAGE CREDITS

Contracted interest rates on new mortgage loans for housing sales have remained during the first quarter, the traditional dominance of variable rate (97.6% of contracts), but with a slight increase of relative weight of fixed-rate contracts (2.35%). Among the benchmarks used in the new mortgage contracts to variable rate notes, as usual, the EURIBOR (90.34% of new contracts), followed at a significant distance from the 4.82 IRPH % of new contracts and other benchmarks with 2.49% of the contracts.

DURATION OF MORTGAGES ON NEW HOUSING CREDITS

The period of recruitment of new mortgage loans for housing purchase has suffered a turnaround, resulting in a slight increase after seven consecutive quarters of declines. The average result of the first quarter has been 24 years and 9 months. In the last twelve months builds a decrease of 6.09%.

NEW DISTRIBUTION OF THE VOLUME OF CREDIT MORTGAGE COMPANY BY TYPE OF FINANCIAL DEALER

The savings banks hold the lead in granting new mortgages, but with a tendency to reduce the distance to banks, continuing the general trend of the past two years. The quarterly results show a significant difference between trimming the market share of savings banks (46.15%) and Banks (43.56%) and a slight increase in market share of other financial institutions (10 , 29%).

Monthly mortgage payments

The average monthly mortgage payment has fallen for the fifth consecutive quarter, reaching € 608.19 in the first quarter of 2010 compared with € 625.08 in the fourth quarter of 2009. This decrease is due to the reduction in the price of housing (reduction of mortgage debt per household) and the fall in interest rates. For its part, the percentage of the average monthly mortgage payment for the cost of wages has become reduced, 2.18 percentage points and 1.35-year average performance percentage points in the direct comparison of fourth quarter 2009 and first quarter 2010 . On-year declines remain important, accumulating the average monthly mortgage payment a reduction of 19.69% and its percentage of the wage cost decreased 10.75 points.

2009 ANNUAL REPORT

Of the many issues addressed on the sale or purchase of housing 423 114 registered in 2009 detacan the following:

MEDIA AREA

The analysis of the distribution of sale or purchase of housing according to their average size has shown that 52.07% of homes have transferred an average area over 80 m², compared to a meager 3.08% which is smaller than 40 m². The average size of housing transferred in 2009 in its various forms has declined over the previous year, with an average score of 98.78 m² (100.05 m² in 2008). Most average size was made in new housing free to 102.99 m² (103.44 m² in 2008), followed by housing used with 97.07 m² (98.75 m² in 2008), and new housing protected to 82.74 m² (83.46 m² in 2008).

PURCHASES BY FOREIGNERS

The 4.24% of home purchases made in Spain during 2009, according to the extensive sampling conducted were for foreigners, keeping the pace down in recent years (5.85% and 8.29% in 2008 2007). The British remain the greatest weight on the present, with 31.49% of purchases made by foreigners, followed by Germany (7.69%), French (7.35%), Russian (6.48% ) and Italians (5.32%). The top positions have been occupied more affluent countries, displacing traditionally occupied nations, alongside the British, the top of the ranking, as Ecuadorians, Moroccans, Romanians and Colombians.

PERIOD OF STAY IN THE HOLDER OF HOUSES SOLD

Registered sale or purchase of housing in 2009 remained in the hands of its owner an average of seven years and 106 days (7 years and 291 days in 2008) and found how, paradoxically, there has been a reduction during the period of possession last year, despite the greater difficulty selling a home. For ACs, La Rioja has been the one that has had a greater degree of rotation in the transmission housing, introducing the lowest score, with five years and 144 days.
Given the breakdown in installments of half time of possession is verified that the 26.32% of the housing transfer in 2009 were bought for less than three years, 55.12% of the buying had a period of possession between three and ten years, while only 18.56% of the sale or purchase of housing had been in the hands of its owners over ten years.

TYPES OF PROPERTY THAT GUARANTEES THE NEW CREDIT MORTGAGES

The new mortgages, according to the type of real estate that ensures appropriate, prominently, at home, with 67.61%, followed by urban land not built (15.18%), retail (8, 94%), industrial (3.74%), rural real estate (2.61%) and garages and storage (1.92%). For the year 2008 was a reduction of 4.67 percentage points in the funding for housing, with the consequent increase in the relative weight of funding for the rest of real estate.

Just had a very polite email from the College of Registrars. Their data tends to lag the Ministry data by 4-6 weeks, which is the time difference between a property transaction being notarised (the source of MVIV data) and the transaction being entered into the land registry database (data source of the College of Registrars). Same numbers, different accounting period.