Townhouse for Sale Quesada
The appraisals of works of second residence grew 168% from January to September of 2016
During the first nine months of 2016, 745,000 valuations were made, 20% more than in 2015, for an amount of 248,000 million, 14% more.
The number of mortgage appraisals is a clear indicator of the development of the real estate market in Spain. With the data from the third quarter of 2016 provided by the Spanish Association of Value Analysis (AEV), it confirms not only the increase in the purchase of housing, but also the clear recovery of the second home market and the return of the interest of the Banking for financing real estate operations.
And from January to September last year, 20% more real estate appraisals were carried out than in the same period of the previous year. The 745,000 valuations managed in the first three quarters by AEV's 23 rating companies (representing 90% of turnover in the sector) represent an increase in value of 14%, with 248,000 million euros in amount. Mortgage appraisals grew by 13% in number and by 7% in amount, accounting for 51% of the total valuations.
Increase the appraisal for the work of first and second housing.
The entities are again interested in financing new or rehabilitated buildings, since the valuations have doubled in number and have grown by 40% both in amount and in area.
There are also appraisals of works under construction of first and second homes: 168% increase in second homes, compared to 34% in first-time homes. The significant increase in second-home buildings is in line with the demand for older, non-retired and formerly-owned households, both domestic and foreign.
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