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Spanish House Prices Register Second Greatest Decline Globally Since 2012


Spain is the second country amongst the major world economies to record the greatest declines in their house prices since 2012, behind only Greece, according to a recent study published by ‘The Economist’ magazine.

Specifically, since the first quarter of 2012, Spain has accumulated a reduction in the price of housing of 14.3%, a figure exceeded only by Greece, which accumulated a decline of 25.6%.

In the list of 26 leading world economies, only four other countries have registered declines in their housing prices in the past four years: Italy (-13.6%); the Netherlands (-6.8%); France (-6%) and Singapore (-2%).

In contrast, the countries which recorded the greatest increases in their housing prices were Hong Kong and Turkey, with increases of 61.4% and 56%, respectively, followed by Brazil (+35%), the United States (+30%), South Africa (+29.1%) and the United Kingdom (+24.9%).

Over the last year however, El Mundo reported that Spain registered growth of 1.6% in its housing prices, above Belgium (+0.7%), France (-2.3%), China (-2.4%), Italy (-3.3%), Singapore (-3.7%) and Greece (-5.9%).

Hong Kong and Turkey were also the countries to register the largest growth year-on-year (of 20.8% and 18.8%, respectively), followed by Ireland (+13.4%), Sweden (+10.3%), Australia (+7.5%) and South Africa (+7.3%).


House Prices Rose 5.1% in Q2


The price of housing in Spain increased by 5.1% year-on-year in the second quarter of the year, according to the latest statistics from the Association of Property Registrars. This increase is almost double the increase recorded in the first quarter of the year (2.65%), which the Registrars point out "consolidates and intensifies the change in trend which began in 2014”.


Quarter-on-quarter, the increase in housing prices amounted to 2.8% in the second quarter over the first. Thus the pace of growth of the past few quarters has softened the decline since the peak levels reached in 2007, to 29.2%.


A total of 87,187 home sales transactions were registered in the second quarter of the year, which is 11.1% more than in the same period of 2014, and the second highest number of transactions recorded in the last nine quarters, although the figure is 3.7% less than that recorded in the first three months of the year.


In the last twelve months a total of 335,163 home sales transactions have been registered, which is 2.7% more than the accumulated figure up until the first quarter of the year.


Once again, a great difference was noted between the number of new and second hand home sales in the second quarter. While a total of 18,482 transactions were recorded on new homes, representing a decline of 18.5% over the previous quarter, some 68,705 transactions were carried out on second hand homes, representing an increase of 1.2%.


The region which registered the greatest number of homes sales transactions in the quarter was Andalucía, with 17,751 transactions, followed by Catalonia (13,228), Valencia (12,760) and Madrid (12,514).


According to El Economista, foreign demand for Spanish homes remains strong and accounted for 12.8% of the total home purchases in the second quarter, rising from the 12.2% recorded in the first quarter, which shows a certain level of stabilisation in the percentage of purchases by foreigners, at around 13%.


The foreign nationalities leading the ranking for home purchases in Spain are the British (19.8%), French (8.1%), Germans (7.6%), Belgians (6.5%), Swedish (5.6%) and Italians (5.3%). The Russians rank in seventh position, with 3.9%, confirming the downward tendency of recent quarters.

Source September 2015

500 Euro Notes in Circulation Down

500 Euro Notes in Circulation Down 7.7% in July

August 31st, 2015

According to data published last week by the Bank of Spain, the value of all the 500 euro notes in circulation in Spain stood at 35,006 million euros in July, and is the lowest value registered since January 2005, when the number of notes in circulation amounted to a value of 35,169 million euros.

Compared with July of 2014, the Bank’s data shows that the value of the 500 euro notes in circulation has fallen by 7.7%, as a year ago the figure stood at 37,948 million euros.

Thus,El Economista reported that these high-denomination banknotes have now accumulated 37 consecutive months of declines. The July figure of 35,006 million euros corresponds to a total of 70 million notes of 500 euros, compared to the 76 million notes there were a year earlier.

In Spain there are banknotes circulating which are worth a total of 43,753 million euros, which means that the 500 euro banknotes represent 80% of the total.


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Spanish House Price Increases Almost Double the Eurozone’s

Spanish House Price Increases Almost Double the Eurozone’s

The price of housing in Spain registered a 1.6% increase in the first quarter of 2015, compared with the same period of 2014, according to recent data published by the European Commission statistical office, Eurostat, which is almost double the increase registered in the eurozone in the same period, where the prices rose by 0.9%.

Across the whole of the European Union (EU) the average increase in housing prices was 2.5% in the first quarter.

The greatest price increases were registered in Ireland (16.8%), Sweden (11.6%), Hungary (9.7%) and the United Kingdom (8.5%), while in contrast, El Mundo reported that the sharpest declines were recorded in Lithuania (-5.8%), Italy (-3.3%), France (-1.6%) and Slovenia (-1.4%).

Quarter-on-quarter, compared with the last quarter of 2014, housing values in Spain fell by 0.5%, while they increased both in the eurozone (+0.3%) as well as in the EU (+0.6%) 

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Moors and Christians Festival Javea


Beginning on Saturday at 20'45 hours, the fiesta will be announced in the Port with rockets firing and the ornamental lights being switched on. Shortly afterwards you can enjoy a parade through the streets of the port as they to pick up their kabilas and groups who will take to the stage installed on Avenida Jaume I at 22.00 to show off their costumes and their standards .


History of the Moors and Christians

Almost 800 years of coexistence between Muslims and Christians gives a lot of substance for the festival of Moors and Christians. You can participate in this historical play almost every month in some town or village of the Spanish Mediterranean coast.

There is hardly a castle without a role in the struggle for supremacy over Al-Andalus, an Arabic name for the land ruled by Muslims in 711-1492. In its widest it covered modern Spain, except for Asturias, most of Portugal and the southern part of France.

Fights between Moors and Christians lasted almost 800 years

In some towns the stage performance goes on for days, featuring the most important phases of local history. The scenes of many battles, schemes and alliances take place in town squares, castles, harbours etc.

Most of the plays start from the reconquest, the process by which Christians reconquered the Iberian peninsula. Depending on the town, the closing scene of the play involves the conversion of Moors to Christianity or their expulsion to Africa.