Latest Property Selling News from Spain

If you are attached with property selling business in Spain or you are planning to sell your personal property over there, you should keep in touch with new happenings in Spain and is the best source to obtain such information.

Spain is one of the speediest nations around the world as per the shuffling or changes in the laws are concern and the property business in Spain is known as one of the most profitable business of the country. Ultimately, the changes in the rules and regulations happen more frequently in the property selling business as compare to the others.

Latest Property Selling News from Spain Via

 Affordability in Spain declines due to record high prices in Selling Property

Housing affordability in Spain continued to decline in the second quarter of 2017 this year as prices reached record highs, the latest index shows.

It comes as a time when the Spanish Government has announced it will do more to ease the situation by making more help available to first time buyers and by adding to restriction on overseas buyers.

The second quarter affordability index from the Spanish Housing Industry Association (SHIA) says that buying a home is becoming less affordable in Spain largely due to a rise in the median dwelling price of 7.1% to a record high of $840,600.

It points out that the growth in house prices in the second quarter outstripped the growth in wages resulting in the deterioration in affordability and overall the index is down by 0.3%. ( Property Journal)

Property/Home Owners in Spain Losing out by Not Switching Their Mortgages,

Home and property owners in Spain who don’t remortgage after their fixed term deal can end up paying an average of $500 extra a year, with many not realizing they could save money by switching.

New research from Spanish Citizen Association also reveals that first time buyers, who typically have more time left on their mortgages, can end up paying an extra $1,559 a year after their typical two year deal finishes.

The extra payments comes as the result of mortgagees being automatically put onto their lender’s standard variable interest rate at the end of a fixed term mortgage deal rather than looking around for a better product.

The Spanish Citizen Association finds that people who remain on the standard rate after a two year fixed term mortgage deal face an average loyalty penalty of $539 per year and it calculates that 1.3 million people would be better off if they switched to a new deal. ( property Journal-Spain)

 Development land prices for beach sites in Spain remained largely unchanged between March and July but growth is led by brownfield sites in regional cities.

Prices for land in prime locations were also largely unchanged but urban brownfield land values continued to rise, largely driven by demand in three regional cities, namely Madrid, Barcelona and Valencia, according to the research from a property renting firm

Beachside land prices rose by 0.7% in the year to June and the report says that while this may be a modest rate of growth, it marks the first time the annual change in land prices for beach sites has been in positive territory since the end of December 2014.