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House prices are increasing

The quarterly report that was published by INE on March 9 shows that on an annual basis, prices increased in 2014 in all the popular areas of Spain.

puertobanus-9INE “Instituto Nacional de Estadisticas” is the national institute responsible for all Spanish statistics. The quarterly report shows that the Spanish house prices increased by 1.8% in 2014 and it is the first time in six years that prices are rising annually. During the last quarter of 2014, prices increased by 0.2%, and it is the third consecutive quarter that the Spanish house prices have been increasing. Put the entire 2014 the prices increased along the entire coast of Spain.

The biggest price increase was in Madrid and the Costa Blanca area where prices increased by + 2.9% and + 2, 8%, followed by Barcelona / Costa Brava with + 2.2%. Among the foreign buyers UK buyers are the biggest group followed by the scandinavians countries.

According to the report for the fourth quarter from the registration authority “registrador” 77,881 home purchases were conducted in Spain during the fourth quarter of 2014, an increase of 7.3% compared with the same quarter in 2013. The distinction between used and new is on 70/30 so obviously the second hand market is the hottest.