House Sales Up 28.73% in Spain for Q1

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Property transactions are up in Spain and foreign purchasers are gaining market share.

NED166 169k euros Camposol Golf Murcia Mercers spanishpropertycouk

Other nationalities are comparatively affluent and are finding it hard to resist bargain Spanish property.

This week the Spanish Colegio de Registradores (Land Registry) released their Q1 statistics and, with house sales up 28.73% on Q4 2012, the wheels are certainly turning on the Spanish property market. Estate agent Mercers is delighted with the positivity.

A total of 100,768 transactions took place in Q1, the highest for the last eight quarters (partly attributable to the rise in VAT on new builds from 4% to 10% on 1 January 2013 and the end of various tax breaks) and, according to the Land Registry, prices are still falling. Values are down 2.32% for Q1, a decrease of 30.30% from the peak in 2007, but this is having a positive effect on the market – particularly when it comes to foreign purchasers.

Chris Mercer, Director of Mercers based in Murcia, and with 30 years experience selling Spanish property, says, “Spain’s economy is still struggling in contrast with other countries, giving foreign home buyers a competitive edge. Other nationalities are comparatively affluent and are finding it hard to resist bargain Spanish property. As a result the number of houses purchased by foreigners in Spain has been growing for the last two and a half years, almost at 2006 levels where they represented 8.97% of the market. I can only see this rising further, aided a little by the ‘Golden Visa’ scheme for those purchasing property priced above 500,000 euros which is expected to be in force by 1 January 2014.”

The number of house sales to foreigners is certainly the stand-out statistic from this latest Land Registry report. 8.63% of property purchases were attributed to non-Spanish in Q1, much greater than the 4.24% recorded in 2009. Brits lead with 14.9% of the foreign market share followed by Russians in second position with 9%. French take third place with 8.70% then Belgium 7.41%, Germany 6.9% and Norway with 6.02%.

In Murcia, certainly for Mercers, the Brits take an even larger market share, Chris continues, “For Q1 2013, half our sales have been to Brits, a percentage that has remained the same for about the last six to 12 months. I do however think that there are more Brits starting to consider an overseas property purchase with us in Murcia, so I expect this figure to rise for the next quarter. We then tend to sell to several Belgian, French, Norwegian and Swedish clients with the Dutch and Germans also starting to make a resurgence. Russians haven’t quite made it to Murcia yet – perhaps when the Paramount Theme Park gets underway they’ll materialise. We certainly don’t have many ‘Golden Visa’ homes to offer them, average prices are much lower than half a million euros in this part of Spain.”

The Land Registry Report echoes sentiments revealed this month by Solvia, the real estate branch of Banco Sabadell. They have sold a mammoth 5,946 homes since mid-March providing discounts of up to 40% making it “impossible for people not to buy”. Of all deals sold so far, 607 have been in the Region of Murcia. Last year Solvia sold 13,777 homes and target 16,000 for 2013. They now have a website and helpline in Russian to cater to this type of client, who is second only to the British buyer for market share.

Villa Ref NED166 Camposol Golf, Mazarron, Murcia
A detached and extended three bedroom three bathroom (two of them en-suite) villa on a 730m² plot overlooking open countryside within the eternally popular Camposol Golf urbanisation. This “Neptuno Deluxe” has a large shady covered porch leading to an entrance lobby, lounge with fireplace and fitted log burner, archway through to dining area and a further arch to a fully fitted kitchen with all appliances included. At this level there is also a double en-suite bedroom, a twin bedroom and family bathroom with toilet.

From the kitchen back door, external stairs take you to the self-contained first floor double en-suite bedroom which has French doors onto a rooftop solarium with breathtaking views. Down below, the basement is part-finished and is currently used as a utility/garage/storage/workshop area but could easily become self-contained guest accommodation or “Granny” annex. Outside the gardens boasts mature trees and shrubs with a private swimming pool surrounded by a tiled sunbathing area complete with shady pergola, palms and flowers. The property consistently rents for 13 weeks per year and has been completely repainted internally and externally.

Camposol Golf has an 18-hole course, four star Spa hotel and plenty of shops, restaurants and bars on site including an opticians, vets, medical centre, hairdressers and a weekly market. The blue flag beaches and marina of Mazarron are within a 15 minute drive.

Three Bedrooms, Three Bathrooms
Price – 169,000 euros (approx 142,000 GBP)

Contact Mercers Costa Cálida on 00 34 968 199 188, UK Local Rate 0845 017 7805, email sales(at)spanishproperty(dot)co(dot)uk or visit http://www.spanishproperty.co.uk

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for further press information or photography please contact Sarah Drane
on sarah(at)purplecakefactory(dot)com or call 00 34 607 564 726

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