Prices for housing in Spain rose 0.7% in the third quarter of 2013 compared to the previous quarter and so recorded its first quarterly increase since the second quarter of 2010, as reported by the National Statistics Institute (INE). Thus, the housing prices return to positive rates after 12 quarters showing quarterly declines.
Both the prices of new housing as used housing returned to positive rates in the third quarter over the previous quarter. In particular, prices of resale housing rose by 0.1%, while new housing increased by 2.3% from the second quarter.
The Association of Registrars also points in this study that housing demand, during the same period, had a 2.06% increase of operations compared to last year, reaching 76,818 trades. Andalucia, and within it the Costa del Sol, recorded the highest number of operations.
Registrars report that the demand for foreign buyers remain as «one of the most important driving forces of the Spanish property market ‘and in the third quarter accounted for 12.16% of total purchases. «The British maintained the first position with 14.75%, followed by French (11.45%), Russians (9.35%), Belgium (7.25%), Germans (6.94%), Swedish (5.87%), Norway (5.15%) and Italian (3.64%), «the report says.
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* Sources taken from «ABC»