Steady Increase in Spanish Property Sales and Prices During 1st Quarter 2017
The first quarter data for 2017 is looking positive on all fronts so far. Sales are on target for a 5% increase.
Prices are also predicted to show a regional average of 5% increase (though the large cities do skew those figures upwards).
Mortgage demand is healthy, particularly on new homes.
The most eye-catching figure is the dramatic surge in building permits – up by almost 33%! This is driven not so much by demand, but by developers who are keen to take advantage of zero interest rates (at an all-time low) to get their projects started.
This is a chicken and egg scenario. What triggers a booming market, availability or demand? I've always believed in demand-driven markets, but then again, a large selection of competitively priced, attractive property in good locations can also start a demand given the correct amount of marketing.
New-build projects have always attracted investor markets as well as individual home buyers, so with this amount of building permits issued, I would expect there to be a welcome return of investors to the Spanish property market in Murcia region in the very near future.
Current Market Conditions.
One of the most important factors in our business, apart from the above mentioned 'demand' and 'availability' is the prevailing 'market conditions' – there are so many variables that can come together to help and conversely some that can totally disturb it. We saw for example how Brexit disrupted the market last year, sending exchange rates and buyer confidence down for several months! This time last year the exchange rate was; 1.29€ to £1. At present we are 1.18€ to £1 – making Spanish property around 10% more expensive than a year ago.
In the coming months we expect to see the availability and demand for Spanish property increase. Virtually all of the institutions agree with this – a stronger pound would certainly help put the extra fizz back into the market.
Fuente Alamo Real Estate/Murcia Coast & Country
Tel 0034 968 598 173
Nationwide Protest Over Sad Fate Of Hunting Hounds
Thousands of animal-lovers gathered in the streets to protest against hunting with hounds. They denounced the 'systematic abandoning' of the dogs at the end of the season and the horrendous fate some of them face, especially when they are too old or slow to hunt any longer.
Type 1 diabetes is when the body has a malfunction and is unable to produce insulin so the glucose builds up in the body. It is usually diagnosed during childhood, but can be diagnosed later. The body can't use glucose to provide energy so breaks down stores of fat and protein instead.
The Brazil Nut tree can reach 50 metres high with a trunk up to 2 metres in diameter, making it among the largest of trees in the Amazon Rainforests and in Brazil it is illegal to cut down a Brazil Nut tree. It can live for 500 years or more. The bark is greyish in colour and is smooth.
No Excuses For Benefit Fraud
A Briton who lived in Mazarrón and claimed that being penniless and homeless had left him no choice but to make a fraudulent claim for benefit has been handed two suspended prison sentences and ordered to repay in full the wrongfully claimed cash.
To start off this month's article here is the translation into English of last month's little bit of Spanish.
Hoy ha sido un día normal de trabajo para mí, con mis clases en Torrevieja. Tengo muchos alumnos ya, sobre todo en el segundo grupo del día.
Carnival time in Spain is historically known as Shrovetide (pre-Lent) and occurs for a week during February or March depending on when Easter falls in the Catholic calendar.