ministry of housing
July 21st, 2009
This week, there's a difference of opinion over the Tinsa Spanish house price index for June 2009. My interpretation of their data is that a 10% Y-O-Y decline seems about right - because a year ago, house prices had already declined almost 20% from their peak in the middle of 2006. Mark ...
Continue reading Spain: Same Data, Different Interpretation
July 21st, 2009
Spanish property prices are still falling, especially on the coast, according to fresh data from two different sources. Average prices fell by 10.1% over 12 months to the end of June says the Spanish property price index published by Tinsa – one of Spain’s leading appraisal companies – whilst new figures ...
Continue reading Spanish Property Price Falls
July 6th, 2009
The way things are going it will soon be rare to see a crane in Spain. The figures for new housing starts say it all. Not long ago, before the credit crunch brought people to their senses, everywhere you looked in Spain the horizon was bristling with cranes, especially on the ...
Continue reading Spanish Housing Starts Down 68% Q1 2009
June 16th, 2009
After last week's flurry of positivity, I was half-expecting to produce a newsletter from the flip-side this week - one full of doom and gloom. While there are some somber articles, yet again we find more reasons to be cheerful about Spain and its property market.First off, the Moneycorp Euro ...
Continue reading Spanish Property News Roundup
June 11th, 2009
The Tinsa House Price Index for May 2009 is available to download - and it makes for encouraging readingLast month's TINSA report fell a little flat because of the hope it would show that the decrease in house prices had reversed. Actually, both the March and April TINSA reports showed that ...
Continue reading TINSA House Price Index May 2009
April 20th, 2009
Where are you if you can’t see anything around you, and don’t have a map? Lost, most likely, just like the Spanish property market, where a lack of reliable data means nobody really knows where the market is heading, other than somewhere South. But at a time like this, when the ...
Continue reading Spanish Ministry of Housing: We Need More Data
March 23rd, 2009
The number of foreigners buying Spanish property as a second home collapsed in 2008, falling by 59% to a measly 3,691 sales, according to the latest statistics from the Ministry of Housing. Compared to 2006, when non-residents bought 17,212 second homes in Spain, sales were down by a whopping 79%, ...
Continue reading Spanish Property: Where Are the Foreign Buyers?
March 17th, 2009
Spanish Long Term Rental prices fell 8% on average in 2008, whilst the supply of properties for rent surged by 300,000 homes in response to plunging property sales, according to a recent article in the Spanish daily ‘Publico’. Renting is not popular in Spain, at least when it comes to primary ...
Continue reading Cost of Spanish Long Term Lets Falls 8%
March 11th, 2009
Despite my reservations about the official house price data from the Spanish Ministry of Housing (MVIV) and the National Institute of Statistics (INE), we've been updating and translating some of that data and making it available here. We've now decided to stop updating that data because the data from Tinsa is ...
Continue reading Goodbye MVIV & INE, Hello Tinsa
March 3rd, 2009
My article last week about valuing Spanish property attracted a fair bit of attention - not least from Property Pulse reader, David Jesner - who suggested a completely different method of doing so. David's method is best suited for valuing a detached property, and is based on the assumption that a ...
Continue reading How to Value Spanish Property
February 23rd, 2009
You want to buy a property in Spain, but are put off by the fact that you have no idea what price you should pay - especially in today's market. You know that prices are falling, but how low will they go, and when will they rise again? In the ...
Continue reading What Will You Pay for a Spanish Property in 2010?
February 19th, 2009
At last, we have access to a set of numbers about the Spanish property market which are worth taking seriously. Regular readers will know that the Spanish Ministry of Housing figures are laughable - not just because they still show property values increasing - but because their average house prices are ...
Continue reading Finally, Realistic Spanish Property Trends
January 9th, 2009
The Ministry of Housing recently released their provisional figures for Q3 of 2008. You can download the revised, sanitised and translated MVIV figures from Kyero.com. Most of the data released by the Ministry of Housing (MVIV) is unreliable because it uses property valuations rather than actual sales prices. However, ...
Continue reading Spanish Property Transactions Down by 42%
January 9th, 2009
It could take two and a half years for the glut of new, unsold properties in Spain to be cleared, according to the latest data. It is estimates that there are almost a million new homes that are unsold, most on the Spanish coast, many of which were built for British ...
Continue reading Spanish Property Glut to Persist Until 2011
January 5th, 2009
A new statistic from the Ministry of Housing helps to show that the Spanish property boom is definitely over. The number of transactions involving resale properties is back to the pre-boom low, with sales falling 47% to 179,000 in the first 9 months of the year, compared to 339,500 in ...
Continue reading MVIV – End of Spanish Property Boom
