February 2015 Archive

Thursday 12th February 2015

Girasol Homes Spain Newsletter 7/2/2015

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A message to customers from MD of Girasol Homes, Nigel Salmon

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Friday 6th February 2015

Recent Market Data February 2015

As you probably know the Euro has been weakened significantly recently which provides an excellent opportunity for foreign buyers to save thousands on a European property purchase. In the last year the British Pound has seen a 10% increase in strength against the Euro – British buyers are now in a favourable situation where they see a seven-year high in exchange rates coupled with the lowest house prices in Spain in ten years. (Figures 1 & 2)

Figure 1 – Property price (€/m²) Source: tradingeconomics.com/ Ministry of Housing Spain

  

Figure 2 - EUR/GBP 7 year profile. Source: xe.com

This correlates nicely with economic confidence also at a seven-year high, particularly in areas such as retail, consumer confidence and industry. Some good comparisons on last year to note would be:

·14.2% more mortgages approved in November 2014 compared to the same period the year before

·5.1% more new build permit applications submitted in 2014 than 2013

·2013 saw a record breaking number of tourists come to Spain and 2014 also broke records with a 6.5% increase on the previous year. These 65 million tourists spent approximately 63.1 billion €.

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