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Latest Spanish Property news – 28/07/15*

In last week’s Spanish property news, home sales are up, prices are down.

The latest property figures maintain a robust start to the year, with year on year sales increasing by over 8 percent. Though the average value of those property sales was down slightly, there was a big increase in new mortgages and the average mortgage amount has also gone up, providing another indication that lenders are offering more credits, more easily.

As has been the trend all year, the sale of new homes is struggling compared to the second hand market. Yet, even with a sluggish rate in new property sales, it has contributed to the lowest surplus of new builds in 7 years, with 5 percent of the total surplus of homes finding a buyer in 2014.

Nearly half of all the remaining unsold properties are located in Valencia, Andalucía and Catalonia, with many located in developments that would have originally been targeted at foreign buyers. Their owners may once again be hoping that foreign tourists start turning into active home buyers as record breaking tourism results have been published.

Over 29 million tourists visited Spain between January and June, with Catalonia being the most popular destination and Andalucía having the largest growth in visits. Notably, British (26.4%), German (16.5%) and French (12.8%) tourists made up over half of the total number of visitors.

Tourism levels have always correlated closely to the number of foreign house buyers, and we can report that 2015 has shown a record breaking amount of interest in Spanish property by overseas buyers. Compared to the same period in 2014, there were more than 30 percent more visitors to Kyero.com in the first half of the year, with buyers based in the UK, France and Germany, increasing by nearly 40 percent.

From a technical point of view, 2015 has also shown how mobile and tablet devices continue to proliferate. The share of visitors using a mobile device to access Kyero.com has risen from 12 to 20 percent in the last 12 months, while tablet usage has grown from 22 to 26 percent in the same period.

Diminishing desktop users made up 54 percent of all Kyero visitors and, checking the most recent data, it is likely that less than half of all users will be using a desktop device by the end of the year, with mobile use in particular continuing to increase at a rapid rate.

*Article sourced from Kyero