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The positive evolution of the real estate market has resulted in a new growth of housing prices in 2Q17. The data for the third quarter show a better performance than in the same period of the previous year: sales and construction activity were supported by the good performance of the economy and the mortgage market.
June 2, 2016
Spain| The evolution of housing prices in 1Q16 confirms the recovery of the housing market
The growth in home sales slowed in March but grew in the first quarter finally. In turn, the growth in mortgage lending also slowed in March, but the flow of new credit grew strongly in April. Meanwhile, the price of housing increased 2.4% yoy in 1Q16. Finally, the signing of permits accelerated in March
In 2015, the number of mortgage loans grew 3.3% compared to 2014; while the amount financed increased 11.2% in real terms
The residential demand´s fundamentals are developing positively. However, increased consumer uncertainty could be behinf lower sales growth and the mortgage lending growth moderation. Housing starts rose in November and supply variables evolved positively.