COMPETITOR: “Don’t Panic” Call As Spanish Property Slows

Bank of Spain figures show a six percent reduction in property sales.This could be good news for the country that relies on tourism to produce 12 percent of its gross national product and provide jobs for around 11 percent of its workforce.
The drop in sales to €5.5 billion for the first 10 months of 2004 has alarmed Government and industry pundits concerned about the knock-on effect on the economy. The drop is due to increased competition from other countries seeking second home inward investment and house price increases in the most popular Spanish Costas.

But the sales drop is not necessarily bad news, according to online specialists PropertyInSpain.Net because the market has already started to correct itself as buyers are moving inland to search for homes that are on offer at the prices of 3-5 years ago. Spokesman Terry Walker explains that there is no need to panic. Brits are the most property savvy nation on the planet and they know what real values are in any market in which they are thinking of buying. A few hours research on the Internet is enough to show them there are bargains still to be had within 15 minutes of Blue Flag beaches and famous resorts.
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Posted on: Spain

February 4, 2005

“Don’t Panic” Call As Spanish Property Slows

Figures from Bank of Spain shows a slowly depleting reduction as much as six percent in property investment sales – possibly a good news for the country that do rely for tourism with an additional 12 percent of its gross national product and which still hands out jobs for 11 percent of its work force. The sudden drop of sales, from 5.5 million during the first 10 months of 2004, has actually concerned the Government and other industry sectors about the startling effect on this to the economy. The drop figured after the other countries have decreased the sales of their properties to a staggering amount and has viable competitions in other parts of the region, such as the one in the Spanish Costas – the most popular.

Posted on: Spain

February 2, 2005

Spain’s Economy Data Boost for Property

Because of a persistent rise of 2.7 percent in the fourth quarter, the economy of Spain grew by 2.6 percent in 2004 compared with the year before, as told by the Bank of Spain and property growth for 2004 is being projected at over 16 percent, after certain figures from the College of Property Registrars.

With the following data and the following positive figures, there will now be a shift in paradigm as offplan properties are then to be boosted in the Spanish Costas region as buyers traditionally renew their Spanish dreams at the start of the new year. According to registrars’ records, there has been a continuous climb of a yearly 3.90 percent in the third quarter of last year, diminishing from a growth rate of 4.46 percent in the second quarter. Last year has been one good year too as property prices were up by 12.2 percent for the first nine months of the year. According to the appraisers society, Sociedad de Tasacion, there has been a recent estimate of a persistent growth in house prices in provincial capitals which actually slowed to 12.5 percent last year from 16 percent in 2003.

Posted on: Spain

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COMPETITOR: “Don’t Panic” Call As Spanish Property Slows

“Don’t Panic” Call As Spanish Property Slows

Spain’s Economy Data Boost for Property

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