AS 2015 is still in its infancy, let’s look back at the last 12 months in the Spanish real-estate marketplace to see what has changed, what has stayed the same, and what we can look forward to in the new year.
1,594€ – the average price, per square metre, of resale housing in Spain, as at December 2014. This was 5% less than the average for 2013, when the price per square metre at the end of the year stood at 1,679€.
1,609€ – the average price/m2 of resale housing in the province of Malaga in December, which represents an annual drop of 2.8%, well below the national average. In the last quarter, prices slid by just 0.1%.
2,307€ – the average price/m2 in Marbella last month. This is actually 3.7% higher than the figure for 2013, which is great news for vendors and means it’s a good time to think about buying before prices rise further.
0.329% – the euribor (European Interbank Offer Rate) at the end of last year, which marked an all-time low in the interest rate to which most mortgages in Spain are tied.
300€ – the average amount that those paying mortgages subject to annual revisions in line with the euribor should save in 2015, compared to what they were paying in 2014.
80,136 – the total number of properties bought by private individuals in Spain in the first nine months of 2014, almost 10,000 more than in the same period of 2013. Over 40% of the total were in Andalusia.
32.5€ billion – the total value of all the property sold in Spain from January to September.
31.2% – the increase in the number of properties that changed hands in Malaga province in the same period, compared to the previous year. According to the Ministry of Public Works and Transport, 17,235 sales were registered by notaries from January to September.
34% – the share of the total purchased by foreign buyers who are resident in Spain (the Ministry doesn’t keep track of non-resident overseas buyers, meaning the overall percentage is likely to be much higher.)
25.4 million – the estimated total number of properties in Spain at the start of 2014, of which almost 4.4 million are located in Andalusia.
26 – the number of illegally built properties demolished by court order in the province of Malaga in the first 11 months of last year.
Sources: idealista.com, INE, La Opinión de Málaga, kyero.com, Malagahoy.es