The 12-month Euribor, which is usually the interest rate lenders use to calculate the mortgage interest rates in Spain, are now 3.345% as of 23rd January 2023, up from 2.842% on the 1st December 2022. Euribor stands for Euro Interbank offered Rate Depending on lender a typical variable rate would be the 12 month euribor plus 1%- 2%. This would mean a typical 20-year variable-rate repayment Spanish...
The Mediterranean coast, and the capitals and large cities stand out as the groups that have appreciated the most in the last year, since the drop period that prices went through due to covid The residential market showed in November, in line with other economic sectors, an upward trend in prices. The average value of new and used housing increased by 1.2% in the monthly rate, according to the Tinsa IMIE...
A Spanish mortgage is a very good option to take when purchasing a property in Spain. With interest rates at record lows the lenders are still lending 70% LTV with the interest rate below 2% for a variable rate or around 2,5% for a fixed rate. The term can be taken until age 75 or 30 Years A typical mortgage of €250.000 over 30 years at 2% interest rate would work out at €924 a month. Also since...
HOUSE PURCHASES IN SPAIN REACH MAXIMUM LEVELS IN 10 YEARS Housing purchases in Spain increased 10.1% in 2018 yoy, for a total 515.051 operations, the largest amount of operations since 2008 according to the National Instute of Statistics (INE). The second hand and the new house markets were the main driving force behind this annual growth, the fifth consecutive growth after a 2% increase in 2014,...
In 2019 the Spanish real estate market behaviour is expected to be on pair with the activity registered in 2018. Investment volume will remain high, after having broken records in 2018 with more than 20.000 million euro invested, 56% more than in 2017. At least this is what can be expected based on the Real estate outlook for 2019 carried out by CBRE and presented at Tendencias Inmobiliarias, annual...
Spain is among the top 20 countries in the world in terms of real estate transparency, according to biennial survey Global Real Estate Transparency Index 2018 (GRETI) carried out by real estate consultant JLL. Spain climbs three places over the 2016 edition, being now 19th. The report also analyses real estate transparency by cities and Barcelona and Madrid are placed at number 28 and 29 respectively...
In the second quarter of 2018 160.287 houses were sold in Spain, according to the results from the statistical analysis of housing real estate transactions before a notary which are issued by the Ministry of Development. To find a quarter with more transactions, one would have to go back to the year 2007, when more than 227.562 houses were sold. The data represents an increase of 11,5% over the...
The progressive recovery in the second home market in Spain has translated in an acceleration of prices in enclaves of Costa del Sol, the Balearic and Canary Islands. A positive trend change begins in locations where national demand is predominant, such as Huelva, Granada, Tarragona, Manga del Mar Menor, Almeria or south of Pontevedra. The report Housing in Costa 2018 of Tinsa shows that the...
The house price in Spain will continue to rise throughout 2018 until reach increases of around 6%, and in cities such as Madrid, Valencia, Malaga or the Balearic Islands the increases could be up to 10%. This is one of the conclusions of the report "Residential Market in Spain" prepared by CBRE. The study also reflects that, although at a national level the intensity of growth is still moderate...
Santander and Blackstone decided to inject a total of €300 million into Project Quasar Investment, the company co-created (49% / 51%) in March to receive 30 billion in assets transferred by Banco Popular. According to El Economista, the establishment of this company was necessary to close this sale transaction of Popular assets. In addition to the purchase of most of the Bank's assets, Blackstone...
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