Our Spanish lawyer can finally understand the increase sale transactions after seeing the latest figures in house prices published by the Spanish Government has published.
The Government’s Housing Department, part of the Ministry of Public Works (Fomento) published the last figures for this month. Lucky Spanish house prices rose 1.8% last year, according to the house price index.
The falling trend seems to be finished and since 2007 the house prices have significantly increased. This effect will lead a rise in transactions were Spanish lawyers and notaries will be affected in the sales area.
House prices rose in the Balearics islands last year (+5.4%), and fell the most in Cantabria (-4%).
Tinsa the company leader in the market of valuations, appraisals and certifications in Europe and Latin America. Experts in online appraisals and mortgageAlso just published are the February house prices figures showing average national prices up 2.7% over 12 months, and by 6.1% on the coast, and 2.5% on theBalearic Islands and Canary Islands.
The house price index tracker In the context of the SPI House Price Index Tracker, which tracks the seven most-watched house price indices in Spain, the latest figures (highlighted in yellow) reinforce a picture of stable house prices with a slight upward momentum.
The Spanish property portal Fotocasa.es has launched this chart showing the price decline of asking prices in Spain’s 17 autonomous regions from peak to present (February 2016).
It is interesting to see how the biggest absolute decline has taken place in Catalonia, where asking prices went from an average of €309,136 at their peak, to €160,284 in February, a decline of €148,852 (-48.2%). The chart illustrates how spectacularly vendors have lowered their price expectations over the last decade. The transactions have been increased showing a big for services related with Spanish solicitors in UK.