Home News Spanish National VALENCIA HOUSE SALES REMAINS ENCOURAGING

VALENCIA HOUSE SALES REMAINS ENCOURAGING

4 min read

The British retained the top position with 15.10% of all sales

In 2013 Valencia recorded a total of 47,649 house sales, the third highest figure in Spain behind Andalucía (66,841) and Catalonia (47,771). Of the sales carried through 22,250 were for new properties while the figure for resales was slightly higher, a total of 25,399 homes.

These figures were slightly down on the previous year in which a total of 329,146 homes were sold, 0.48% less according to a statement released last week by the Madrid based Association of Property Registrars.

By provinces, Alicante recorded the highest number of home sales in the Region, with 24,754, followed by Valencia (16,774) and Castellón (6.121).

The average amount of a mortgage in Spain during 2013 (100.841 euros) fell by 4.34% to its lowest figure since 2004.

In Valencia, mortgage loans contracted in the last quarter of 2013 stood at an average of 75.068 euros, a figure significantly lower than the national average, which experienced a slight increase (104,487 euros).

In 2013 Valencia also recorded the fifth lowest monthly mortgage repayment in Spain, just 445.13 euros (26.51% of the average household income).

The average mortgage term in Spain was 22.5 years, whilst in the Valencia Province it was fixed at 20.5 years.

One other variable highlighted by the Association of Registrars was the average interest rate for a house purchase in Valencia, which in 2013 was 4.14%, slightly higher than the Spanish average (4.02 %).

The actual price of housing in Spain, calculated from the House Price Index for repeated sales of the same property, and based on the Case & Shiller methodology, was down 1.25% in 2013.

However the Association also states that between October and December, prices began to show signs of recovery, experiencing an increase of 2.16% from the previous quarter.

This is the second consecutive quarterly increase, but they say that we will need to wait for the results in the coming quarters to see if the turnaround is confirmed.

The say that the demand for housing continues to show signs of recovery as does the purchase of homes by foreigners in 2013 which represented 11.15% of all registered purchases in Spain, rising to 12.85% in the fourth quarter of the year.

The British retained the top position with 15.10%, followed by French (9.84%), Russians (8.58%), Belgians (7.26%), Germans (7.01%), Swedish (5 , 63%), Norwegians (5.27%) and Italians (3.65%).

Filed under: http://www.theleader.info/article/42672/

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