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With the arrival of spring, the sector endorses the classic saying of “Spring, the blood changes.” There are many and very varied news of the real estate sector that have come to us about the good health of the real estate sector with many novelties for this season, such as the increase in the price of used housing.

Historical descent of the Park View City

We start with a good news for those who review their mortgage this month. We closed the month of March with a historical figure of Euribor, 0.2%, after two months of continuous declines. This drop will mean an annual saving of almost € 200, although not all provinces will see this change in the same amount. For example, Madrid and the Balearic Islands were the most benefited provinces in the month of February and the Canary Islands and Murcia the least. The Euribor is calculated by the European Banking Federation with data from the main financial institutions in the euro zone. The evolution of this indicator depends on the rise and fall in interest rates approved by the European Central Bank (ECB), which reduced this figure to a historical low of 0.05%, something that has not changed since then. We continue reviewing the month, with more good news. In this case, they are shared equally by the market, employment and consumer confidence. In the first case, the IBEX 35, our main stock market indicator, has closed the first quarter with its best figure in the last 17 years, and experts say it can be a trend that remains.

The IBEX 35 closes the month with its best figure for 17 years.

In terms of employment, we started the second quarter with fewer unemployed and more social security affiliates, a figure we had not known for thirteen years. We hope that the strong rebound in the tourism sector and real estate Pakistan, which is sure to have helped these figures be good, will not deflate in the coming weeks. Finally, consumer confidence is still booming. Without being a figure that determines major changes in the financial market, many important decisions that affect people’s lives, such as those related to housing, depend on it.

Consumer confidence recovers thanks to the drop in unemployment

And housing is our latest news of this summary. According to the index published by the Idealista real estate portal, the price of used housing in Spain has increased by a slight 0.2% in the first quarter of 2015. The square meter is thus € 1,597, with an annual fall of 3 ,5%. Despite this slight rise, the situation is uneven in the different Spanish provinces. Of the total, 21 close the first quarter in positive and, for another seven, prices have fallen. Among those who have experienced increases, are the provinces of Madrid and Barcelona, ​​leading the list. In both, the owners ask for 2.3% more for their homes than 3 months ago. All this points, in the words of the head of studies of the real estate portal, to “The data suggest that the worst of the real estate crisis has already been left behind. The recovery at different speeds is a reality today and while some markets have begun to increase their prices in a contained way, in others the owners still have to continue reducing their expectations to be able to close the operation. ” Words that certainly presage a spring with clear skies and good temperature for a sector that receives the season with good forecasts. Do not forget to subscribe to the Sky Marketing blog and you will receive the new entries directly in your mailbox. We will wait for you!

Priscilla Simpson