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Luxury housing

Construction statistics improve


Several indices evidence beginning of economic recovery

data facilitated by Notary Information Centre, Public Works Ministry and Eurostat show a tendency change of latests years, now it is possible realize beginning of economic recovery.

02.10.2014


According to the Notary Information Centre statistic, housing trading by foreign people rose 11,9 % in 2014 second semester. The largest percentage of purchaser are British with 16,7 %, following of French with 10,5 % Russians and Germans with 7,1 % and 6,6 % respectively. This increase reflect a risen about foreigners trust in Spanish construction and real-state, joined to the expert opinion predict prices are in the lowest level and are not going to decrease more.

All these data seems we are in the perfect moment for housing investments in Spain, property trading join with new construction works, reform or rehabilitation. After prices stabilization trust about Spanish economy recovery increase, through 2015 prices could even start to grow slowly. Notaries data respect regular and luxury housing trading risen by 10 % in 2014 first semester respect same period of previous year.

According to Public Works Ministry statistics, new construction, development, reform and rehabilitation visas number in Spain is keeping in the latests official newsletter. During 2014 first semester quantity rises up till 29.996 visas, compared with 30.752 visas of 2013 first semester reflect a decrease of only 2,45 %. On the other hand, Spanish construction activity rose 1% during 2014 July. According Eurostat, it has been the third highest increase inside Eurozone, only overcome by Hungary and Germany.

There is no doubt about construction and real-state sector has overcome its deepest point, so now sector recovery is starting, it will be slow and progressive, anyway we already can talk about sector recovery.

Pablo Gacimartín