Published 14/09/2017 by Carrie Frais

Lucas Fox Spanish Real Estate Market Report Q1 & Q2 2017

The Lucas Fox Market Report for Q1 & Q2 2017 continues to show encouraging trends across all prime regions, with the number of property sales transactions up almost 50% in the first half of 2017.

Lucas Fox’s in-depth Spanish Market Report includes detailed information about the property landscape in the company’s 8 key regions: Barcelona, Maresme, Sitges, Madrid, Valencia, the Costa Brava, Marbella – Costa del Sol, and Ibiza.

The recovery of the Spanish property market has been extremely encouraging in the first 6 months of 2017 with sales transactions continuing to grow across all key regions. Lucas Fox has had an extremely successful year so far with the number of sales transactions in the first 6 months of 2017 showing an annual growth rate of 47% compared to the same period last year. There is a continued high level interest in New Development properties and Lucas Fox predicts that by the end of 2017 around 50% of its sales transactions in Barcelona will be for new homes.

Here are some of the highlights from the Spanish Market Report for Q1 & Q2 2017:

  • According to the National Institute of Statistics, the average number of sales transactions per month across Spain as a whole during the first 6 months of 2017 was 39,279, showing an annual growth rate of 13%.
  • Lucas Fox registered a significant increase in both the value and volume of sales transactions in the first 6 months of 2017 across all its regions, showing annual growth rates of 47% and 55% respectively.
  • The average Lucas Fox property price during the first half of the year was €750,000.
  • Lucas Fox buyers looking for a secondary residence (32%) or investment property (32%) dominated the market during the first 6 months of 2017, with 23% seeking a primary residence.
  • The number of tourists visiting Spain hit a new record in 2016 for a fourth consecutive year with a total of 75.6 million visitors. More records are expected to be broken during 2017.
  • According to Ernst & Young, 11% of Spain’s GDP comes from tourism.

Regional Highlights

  • In Barcelona both the number and value of Lucas Fox sales transactions increased, by 42% and 31% respectively.
  • The value of Lucas Fox Maresme sales increased by 59% in the first 6 months of 2017 compared to the same period in 2016.
  • Lucas Fox Sitges sold 175% more homes during the first half of 2017 than in the same period in 2016.
  • Lucas Fox Madrid sold 30% more homes during the first half of 2017 than in the same period in 2016.
  • The value of Lucas Fox Valencia sales increased by nearly 200% in the first 6 months of 2017 compared to the same period in 2016.
  • According to the National Institute of Statistics, the number of sales transactions per month in Girona Province during the first 6 months of 2017 (which includes the Costa Brava) averaged 891, showing an annual growth rate of 18%.
  • The volume of Lucas Fox Marbella sales saw an increase of 150% in the first 6 months of 2017 compared to the same period in 2016.
  • According to Idealista, property prices on the Balearic Islands (which includes Ibiza) averaged at €2,395 per square metre, showing an annual growth rate of 14%.

Download the Lucas Fox Market Report Q1 & Q2 2017

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