skymarketing in islalmabad Campaign

The price of housing increases 9.4% annually in the first quarter of 2018, according to the Registrars

The house price, calculated through the Repeated Sales House Price Index (according to Case & Shiller methodology applied to Spain), presents a significant annual increase of 9.4% in the first quarter of the year , continuing the rise observed in the last quarters.

Compared to the previous quarter, the increase is proportionally greater, at 4.5%. The growth rate of the last quarters leaves an accumulated decrease of 18% from the maximum levels of the index , reached in 2007.

Source: Real Estate Statistics of the College of Registrars

Registered merchants

According to the  Real Estate Statistics of the College of Registrars  corresponding to the first quarter, between January and March, 128,990 home sales were registered in the property records. 15.3% more than in the previous quarter. It is the highest quarterly result since 2008 . In relation to the first quarter of 2017, the increase was 13.4%.

In the last twelve months , 479,475 operations have been registered , the highest year-on-year result since the first quarter of 2009.

In new housing, 22,299 merchantings were registered in the first quarter, 15.4% more than in the previous fourth quarter . Achieving the highest result of the last three years. 106,691 merchantings have been registered in used housing, with a quarter-on-quarter increase of 15.2%. It is the highest absolute figure since the second quarter of 2007.

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Foreign purchases

Home purchases by foreigners stood at 13.1% of merchantings , slightly below 13.6% last quarter, but with a significant increase in absolute terms due to the strong increase in the general number of operations.

Specifically, there have been more than 16,500 home purchases by foreigners , compared to just over 15,000 in the fourth quarter. The nationalities with the greatest weight in the purchase of housing by foreigners have been British (14.6%), Germans (7.9%), French (7.6%), Belgians (6.8%), Swedes (6, 6%), Italians (5.8%) and lost items fire emblem (5.4%). In the last twelve months, foreigners have registered nearly 63,000 home purchases.

The Autonomous Communities that during the first quarter have registered the largest number of home purchases by foreign citizens have been the Balearic Islands , where 31.7% of the region's merchantings have been made by foreigners. They are followed by the Canary Islands (29.6%), the Valencian Community (26.5%) and Murcia (17.5%).

Source: Real Estate Statistics of the College of Registrars

Features of mortgage credit

Mortgage indebtedness for housing has increased by 0.2% during the last quarter, reaching an average result of € 121,123. The increase over the same quarter of 2017 has been 4.3%.

Contracting at a fixed interest rate remains relatively stable, reaching 37.3% of new mortgage loans. Contracting at a variable interest rate stood at 62.7%, which practically all of it (62% of the total) uses the Euribor as a benchmark .

Initial contracting interest rates remain stable with a downward trend, with an average result in the last quarter of 2.3% similar to the previous quarter (decreased only 0.03pp).

The average duration of new mortgage loans continues its slow and progressive upward trend, reaching 23 years and 8 months, with an increase of two months over the previous quarter.

After several quarters with a slight deterioration, the accessibility indicators improve again in the first of the year, leading to a decrease in the average monthly mortgage payment of 0.7% and in the percentage of said share with respect to the wage cost of 0.24pp.

This improvement is due to the lengthening of the average periods for contracting new mortgages (0.7%), the slight reduction in initial contracting interest rates (-0.03 pp) and the slight increase in wages (0 , 1%), which have been able to counteract the negative effect of the increase in mortgage debt for housing (0.2%). The average monthly mortgage payment was € 551 and the percentage of said payment with respect to the salary cost was 29%.

Mortgage defaults

According to the Real Estate Registry Statistics, which can also be consulted on the Housing Prices Portal , the certifications of housing for the start of foreclosure in the first quarter have been 6,537. With a fall of 25.4% over the same quarter of 2017.

60.9% of the certifications have corresponded to legal entities , surpassing natural persons, who reached the remaining 39.1%. Regarding nationality, 3.5% corresponded to foreigners, compared to 96.5% of nationals.

The dations in payment were 2,037, with an increase of 6.2% over the same quarter of 2017. 89.1% affects individuals , compared to 10.9% for legal entities. Regarding nationality, 12.9% of the payments in payment corresponded to foreigners, compared to 87.1% of nationals.

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