MARKET REPORTS Q1 & Q2 2017
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- Elaine Jacobs
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1 MARKET REPORTS SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
2 SPAIN 3 BARCELONA 8 MARESME 19 MARKET REPORTS INVEST IN YOUR PASSION SITGES MADRID VALENCIA BARCELONA COSTA BRAVA GIRONA IBIZA MADRID MALLORCA MARBELLA-COSTA DEL SOL MARESME SEVILLE SITGES VALENCIA ANDORRA PORTUGAL COSTA BRAVA MARBELLA- IBIZA COSTA DEL SOL
3 SPAIN We ve had an extremely successful first half to 2017, particularly in Spain s top three cities, Madrid, Barcelona and Valencia, as well as along the Barcelona coast. Spain s economy is the fastest growing in the Eurozone, bringing with it greater confidence back the property market. We have seen greater interest from property investors in the last year or so, who now regard Spanish real estate as offering excellent potential for capital gains as well as good profitability through short and long term rentals. We expect that the price recovery now taking place in Madrid, Barcelona and desirable second home destinations will extend to the suburbs and other parts of the country in the forthcoming months. MARKET OVERVIEW ALEXANDER VAUGHAN Co-Founder Lucas Fox
4 4 LUCAS FOX / REAL ESTATE MARKET / SPAIN: LUCAS FOX OVERVIEW LUCAS FOX VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data VOLUME OF SALES TRANSACTIONS Source: National Institute of Statistics 46.53% 13.15% 208, ,672 LUCAS FOX VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data % 54.67% 83,713 JANUARY 2007 (PEAK) 44,135 JUNE ,000 LUCAS FOX AVERAGE PROPERTY PRICE 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
5 5 LUCAS FOX / REAL ESTATE MARKET / SPAIN: LUCAS FOX OVERVIEW LUCAS FOX BUYER (ALL REGIONS) COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data Spain 9% 4% 1% 5% 3% 11% 10% 3% 6% 10% 38% UK / Ireland France Canada / USA Middle East Scandinavia Asia Latin America Other Europe Other 32% 1% 9% 3% 23% 32% Primary Residence Secondary Residence Investment Relocation Other Unknown Unknown LUCASFOX.COM WEBSITE INTEREST Source: Lucas Fox website data UK / Ireland 22% Spain 32% Canada / USA Netherlands Sweden Belgium 2% 2% 2% 3% 5% 11% 21% Russia Germany Other
6 6 LUCAS FOX / REAL ESTATE MARKET / SPAIN: ECONOMIC AND PROPERTY INDICATORS GDP ANNUAL GROWTH RATE 2016 Source: International Monetary Fund 3.20% 2.10% 1.90% 2.20% 1.20% 1.00% SPAIN USA GERMANY UK FRANCE ITALY GDP ANNUAL GROWTH RATE PREDICTIONS 2017 Source: International Monetary Fund 3.10% 2.10% 1.80% 1.70% 1.50% 1.30% SPAIN USA GERMANY UK FRANCE ITALY EVOLUTION OF THE EURIBOR Source: Euribor-rates.eu 0-0,1-0,2 OCT NOV DEC JAN FEB MAR APR JUN JUL AUG SEP
7 7 LUCAS FOX / REAL ESTATE MARKET / SPAIN: ECONOMIC AND PROPERTY INDICATORS NUMBER OF TOURISTS VISITING SPAIN Source: United Nations World Tourism Organization TOURISM Source: Ernst & Young 57.5 M 60.7 M 64.9 M % PERCENTAGE OF SPAIN S GDP FROM TOURISM 1 IN 8 PEOPLE IN SPAIN WORK IN THE TOURISM SECTOR 68.2 M 75.6 M TOURIST SPEND Source: United Nations World Tourism Organization AVERAGE TOTAL billion 2016
8 BARCELONA MARKET OVERVIEW Demand for property in Barcelona during the first half of 2017 continues to follow an upward trend with both the number of mid-market and prime market transactions increasing significantly over International investors from Northern Europe and Scandinavia remain the dominant nationalities amongst enquiries. There has also been a notable increase in interest from the United States and Middle Eastern countries such as Turkey and Egypt. Renovated apartments located in Modernista buildings situated in Eixample continue to be in high demand, although other areas in the Old Town are becoming more and more sought-after. Driving this demand is the development of luxury renovation projects and the transformation of these areas with the opening of new trendy bars, restaurants and shops. ROD JAMIESON Managing Director & Partner Lucas Fox Barcelona & Madrid SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
9 9 LUCAS FOX / REAL ESTATE MARKET / BARCELONA LUCAS FOX BARCELONA VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data 42.37% LUCAS FOX BARCELONA VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data 30.51%
10 10 LUCAS FOX / REAL ESTATE MARKET / BARCELONA LUCAS FOX BARCELONA MID-MARKET BUYER (BETWEEN 450,000 AND 900,000) COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data Spain 9% UK / Ireland France 18% 18% 14% 2% 2% 5% 4% 39% Canada / USA Middle East Scandinavia Asia Latin America 21% Primary Residence Secondary Residence Investment Unknown 7% 7% 2% 9% Other Europe Other 43% Unknown LUCAS FOX BARCELONA PRIME MARKET BUYER (OVER 900,000) COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 8% 8% 23% 31% 7% Spain UK / Ireland France Canada / USA Scandinavia Other 7% 8% 31% Primary Residence Secondary Residence Investment Relocation Unknown 23% 8% 46%
11 11 LUCAS FOX / REAL ESTATE MARKET / BARCELONA LUCASFOX.COM BARCELONA WEBSITE INTEREST Source: Lucas Fox website data Spain 27% 32% UK / Ireland Canada / USA France Russia 3% 2% 2% 2% 3% 10% 19% Germany Turkey Other Europe Other
12 12 LUCAS FOX / REAL ESTATE MARKET / BARCELONA LUCAS FOX BARCELONA VOLUME OF RENTAL TRANSACTIONS Source: Lucas Fox rental data 150% LUCAS FOX BARCELONA AVERAGE RENTAL PRICE Source: Lucas Fox rental data 2,721 AVERAGE RENTAL PRICE PER LOCATION EL BORN 1,834 GOTHIC QUARTER 2,150 EIXAMPLE 2,500 SARRIÀ-SANT GERVASI 3,530
13 13 LUCAS FOX / REAL ESTATE MARKET / BARCELONA VOLUME OF SALES TRANSACTIONS BARCELONA PROVINCE AND SPAIN Source: National Institute of Statistics BARCELONA PROVINCE SPAIN 18.81% 13.15% 23,159 27, , , % % 8,728 JANUARY 2007 (PEAK) 4,916 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE ,586 AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
14 14 LUCAS FOX / REAL ESTATE MARKET / BARCELONA TOTAL VALUE OF SALES TRANSACTIONS BARCELONA PROVINCE ( 000 ) Source: Spanish Department of Development 1,670,207 Q (PEAK) % NEW PROPERTIES 154, ,350 Q % Q ,150,128 Q (PEAK) % RESALE PROPERTIES 1,817,847 Q ,444,302 Q % The figures for 2017 are provisional and may be subject to change.
15 15 LUCAS FOX / REAL ESTATE MARKET / BARCELONA MID-MARKET VOLUME OF SALES TRANSACTIONS (BETWEEN 450,001 AND 900,000) BARCELONA PROVINCE AND SPAIN Source: Spanish Department of Development BARCELONA PROVINCE 1,734 2, % SPAIN 9,820 11, % PRIME MARKET VOLUME OF SALES TRANSACTIONS (OVER 900,000) BARCELONA PROVINCE AND SPAIN Source: Spanish Department of Development BARCELONA PROVINCE % SPAIN 1,843 2, %
16 16 LUCAS FOX / REAL ESTATE MARKET / BARCELONA AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista CIUTAT VELLA EIXAMPLE GRÀCIA 4,607 Q (PEAK) -0.98% 5,124 4,718 Q (PEAK) Q (PEAK) -1.30% % 3,902 Q , % 5,057 3,875 4,132 3, % 20.07% Q Q LES CORTS SANT MARTÍ SANTS-MONTJUÏC 5,469 Q (PEAK) -6.87% 4,505 Q (PEAK) -6.09% 4,314 Q (PEAK) % 4,544 Q , % 3,440 Q , % 2,693 Q , % SARRIÀ-SANT GERVASI BARCELONA CITY AVERAGE 5,755 Q (PEAK) % 4,732 Q (PEAK) % 4,551 Q , % 3,533 Q , %
17 17 LUCAS FOX / REAL ESTATE MARKET / BARCELONA AVERAGE RENTAL PRICES ( /m 2 ) Source: Idealista CIUTAT VELLA EIXAMPLE GRÀCIA 18.3 Q % Q % Q % 17.5 LES CORTS SANT MARTÍ SANTS-MONTJUÏC 13.4 Q % % Q % Q SARRIÀ-SANT GERVASI BARCELONA CITY AVERAGE 2.35% Q % Q2 2016
18 18 LUCAS FOX / REAL ESTATE MARKET / BARCELONA PASSENGER ARRIVALS AT BARCELONA AIRPORT Source: Aena 8.53% 20,360,066 22,097,797 TOURISTS WITH A PRIMARY TRAVEL DESTINATION IN CATALONIA Source: National Institute of Statistics 10.31% 7,836,907 8,644,565 The figures for 2017 are provisional and may be subject to change.
19 MARESME 2017 has proved to be a pivotal point in the recovery of the real estate market in the Maresme region. The second quarter of the year in particular has seen buyer confidence rise to levels not seen for many years and Lucas Fox Maresme is expecting to register a record-breaking volume of transactions in The last few months have seen a complete turnaround in market conditions with a high level of activity from both local and international buyers. TOM MAIDMENT Partner Lucas Fox Maresme MARKET OVERVIEW SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
20 20 LUCAS FOX / REAL ESTATE MARKET / MARESME LUCAS FOX MARESME VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data LUCASFOX.COM MARESME WEBSITE INTEREST Source: Lucas Fox website data 58.90% 24% 34% Spain UK / Ireland Canada / USA Netherlands LUCAS FOX MARESME BUYER 2% 2% 2% 2% 5% 8% 21% Turkey Australia Switzerland France Other COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 20% 20% 40% 20% 20% 80% Spain Germany Canada / USA Other Europe Primary Residence Relocation
21 SITGES Prices in Sitges have increased over recent years but are still significantly behind the peak of Where property prices in Barcelona are fast catching up with those of 10 years ago, here the pace is slower, offering good opportunities for investors who want to see healthy returns. Lucas Fox Sitges has had an extremely encouraging first 6 months of 2017 with some high level transactions taking place as well as a steady flow of sales at all budget levels. The level of enquiries is up from the previous year and we still see a marked increase in interest from national buyers. As the year progresses there is every sign that this momentum will continue. MARKET OVERVIEW RACHEL HASLAM Director Lucas Fox Sitges SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
22 22 LUCAS FOX / REAL ESTATE MARKET / SITGES LUCAS FOX SITGES VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data LUCAS FOX SITGES VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data % % LUCAS FOX SITGES BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 18% 9% 37% 27% Spain UK / Ireland Canada / USA Latin America Other Europe 9% 27% Primary Residence Secondary Residence Investment Other 9% 9% 55%
23 23 LUCAS FOX / REAL ESTATE MARKET / SITGES LUCASFOX.COM SITGES WEBSITE INTEREST Source: Lucas Fox website data 2% 2% 2% 3% 4% 19% 12% 20% 36% UK / Ireland Spain Canada / USA Germany Netherlands France Russia Other Europe Other
24 24 LUCAS FOX / REAL ESTATE MARKET / SITGES AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista SITGES CASTELLDEFELS GAVÀ BARCELONA CITY AVERAGE 4,839 4,225 3, % % % Q (PEAK) Q (PEAK) Q (PEAK) 4,732 Q (PEAK) % 3,862 3,043 2,721 3,702 2,771 2, % 9.82% 14.83% Q Q Q ,533 Q , % AVERAGE RENTAL PRICES ( /m 2 ) Source: Idealista SITGES CASTELLDEFELS 13.3 Q % Q % 14.7 GAVÀ BARCELONA CITY AVERAGE % 10.67% Q Q2 2016
25 MADRID In the first half of 2017 the Madrid market has continued to follow a similar trend to 2016 with strong local and national market activity growth and increasing demand from international investors. Lucas Fox Madrid has seen sales transactions increase by 30% year-on-year in the first half of 2017 and the number is expected to increase fivefold by the end of the year. More and more international buyers are choosing the Spanish capital as the best option in which to invest their money, thanks to high potential for capital gains in the mid to long-term, excellent rental returns and the superb lifestyle on offer. MARKET OVERVIEW ROD JAMIESON Managing Director & Partner Lucas Fox Barcelona & Madrid SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
26 26 LUCAS FOX / REAL ESTATE MARKET / MADRID LUCAS FOX MADRID VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data LUCAS FOX MADRID BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 15% 30.00% 46% Spain Scandinavia Latin America 31% Other 8% LUCAS FOX MADRID VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data % 38% Secondary Residence Investment 62%
27 27 LUCAS FOX / REAL ESTATE MARKET / MADRID LUCASFOX.COM MADRID WEBSITE INTEREST Source: Lucas Fox website data Canada / USA 31% 22% Spain UK / Ireland Israel Hong Kong 2% 2% 2% 2% 2% 18% 19% Turkey France Germany Other
28 28 LUCAS FOX / REAL ESTATE MARKET / MADRID VOLUME OF SALES TRANSACTIONS COMMUNITY OF MADRID AND SPAIN Source: National Institute of Statistics COMMUNITY OF MADRID SPAIN 15.46% 13.15% 30,760 35, , , % % 7,978 JANUARY 2007 (PEAK) 7,298 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE ,919 AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
29 29 LUCAS FOX / REAL ESTATE MARKET / MADRID TOTAL VALUE OF SALES TRANSACTIONS COMMUNITY OF MADRID ( 000 ) Source: Spanish Department of Development 2,045,127 Q (PEAK) % NEW PROPERTIES 334, ,893 Q % Q ,278,674 Q (PEAK) % RESALE PROPERTIES 2,502,433 Q ,930,123 Q % The figures for 2017 are provisional and may be subject to change.
30 30 LUCAS FOX / REAL ESTATE MARKET / MADRID AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista PRIME MARKET VOLUME OF SALES TRANSACTIONS (OVER 900,000) MADRID AND SPAIN Source: Spanish Department of Development CENTRE CHAMARTÍN 4,398 Q (PEAK) -2.07% 4,861 Q (PEAK) % 3,638 Q , % 3,915 Q , % MADRID % 4,927 Q (PEAK) CHAMBERÍ -8.50% 4,995 Q (PEAK) SALAMANCA 0.12% 3,960 Q , % 4,531 Q , % SPAIN 1,843 2, % 4,030 Q (PEAK) 2,866 Q MADRID CITY AVERAGE 3, % 6.33%
31 31 LUCAS FOX / REAL ESTATE MARKET / MADRID AVERAGE RENTAL PRICES ( /m 2 ) Source: Idealista CENTRE CHAMARTÍN 16.0 Q % Q % 15.5 CHAMBERÍ SALAMANCA 15.2 Q % Q % 17.3 MADRID CITY AVERAGE 13.1 Q % 14.6
32 32 LUCAS FOX / REAL ESTATE MARKET / MADRID PASSENGER ARRIVALS AT MADRID AIRPORT Source: Aena 7.51% 23,612,371 25,384,765 TOURISTS WITH A PRIMARY TRAVEL DESTINATION IN THE COMMUNITY OF MADRID Source: National Institute of Statistics 20.98% 2,725,839 3,297,798 The figures for 2017 are provisional and may be subject to change.
33 VALENCIA We have seen a noticeable growth in the number of national enquiries in the first half of 2017 and around 50% of our clients are English-speaking. There have also been more investors around, thanks to the city s attractive property prices, good rental yields and, of course, Valencia s fantastic quality of life. JUAN LUIS HERRERO Partner Lucas Fox Valencia MARKET OVERVIEW SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
34 34 LUCAS FOX / REAL ESTATE MARKET / VALENCIA LUCAS FOX VALENCIA VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data LUCAS FOX VALENCIA BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 13% % 9% Spain UK / Ireland 9% France 4% 65% Canada / USA Other Europe LUCAS FOX VALENCIA VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data 4% % 26% 44% Primary Residence Secondary Residence Investment Relocation 26%
35 35 LUCAS FOX / REAL ESTATE MARKET / VALENCIA LUCASFOX.COM VALENCIA WEBSITE INTEREST Source: Lucas Fox website data Spain 24% 2% 2% 2% 3% 3% 10% 20% 34% UK / Ireland Canada / USA Netherlands France Israel Romania Germany Other
36 36 LUCAS FOX / REAL ESTATE MARKET / VALENCIA LUCAS FOX VALENCIA VOLUME OF RENTAL TRANSACTIONS Source: Lucas Fox rental data 63% LUCAS FOX VALENCIA AVERAGE RENTAL PRICE Source: Lucas Fox rental data 2,423
37 37 LUCAS FOX / REAL ESTATE MARKET / VALENCIA VOLUME OF SALES TRANSACTIONS VALENCIA PROVINCE AND SPAIN Source: National Institute of Statistics VALENCIA PROVINCE SPAIN 16.10% 13.15% 11,520 13, , , % % 4,399 JANUARY 2007 (PEAK) 2,588 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE ,229 AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
38 38 LUCAS FOX / REAL ESTATE MARKET / VALENCIA TOTAL VALUE OF SALES TRANSACTIONS VALENCIA PROVINCE ( 000 ) Source: Spanish Department of Development 911,703 Q (PEAK) % NEW PROPERTIES 62,961 Q ,561 Q % 1,158,825 Q (PEAK) % RESALE PROPERTIES 445,632 Q ,059 Q % The figures for 2017 are provisional and may be subject to change.
39 39 LUCAS FOX / REAL ESTATE MARKET / VALENCIA AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista CIUTAT VELLA VALENCIA CITY AVERAGE 3,647 2,770 Q (PEAK) Q (PEAK) % % 2,482 1,594 2,349 1, % 7.24% Q Q AVERAGE RENTAL PRICES ( /m 2 ) Source: Idealista ALICANTE VALENCIA 12.81% 12.94% Q Q2 2016
40 40 LUCAS FOX / REAL ESTATE MARKET / VALENCIA PASSENGER ARRIVALS AT VALENCIA AIRPORT Source: Aena 15.43% 2,576,564 2,974,167 TOURISTS WITH A PRIMARY TRAVEL DESTINATION IN THE VALENCIAN COMMUNITY Source: National Institute of Statistics 18.40% 3,288,851 3,893,936 The figures for 2017 are provisional and may be subject to change.
41 CO STA BRAVA After a quiet first quarter we have seen a marked increase in the volume of operations and enquiries during the last few months. We are also seeing a substantial increase in demand for rustic properties a sector of the market that has seen little activity in recent years. Demand for coastal properties has remained consistent and there have also been signs of an increase in sales at the prime end of the market. The market is still predominantly driven by foreign buyers and the spread of nationalities investing in the area has been fairly broad in The southern coastal areas of Blanes, Lloret de Mar and Tossa de Mar have also begun to see the return of interest from high-end Russian, Ukranian and Kazakh clients. MARKET OVERVIEW TOM MAIDMENT Partner Lucas Fox Costa Brava SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
42 42 LUCAS FOX / REAL ESTATE MARKET / COSTA BRAVA LUCAS FOX COSTA BRAVA BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 25% 25% 50% Spain Canada / USA Other Secondary Residence Relocation 25% 75% LUCASFOX.COM COSTA BRAVA WEBSITE INTEREST Source: Lucas Fox website data UK / Ireland 6% 2% 2% 3% 21% 4% 10% 23% 29% Spain Canada / USA France Switzerland Russia Middle East Other Europe Other
43 43 LUCAS FOX / REAL ESTATE MARKET / COSTA BRAVA VOLUME OF SALES TRANSACTIONS GIRONA PROVINCE AND SPAIN Source: National Institute of Statistics GIRONA PROVINCE SPAIN 18.10% 13.15% 4,526 5, , , % % 2,063 JANUARY 2007 (PEAK) 920 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
44 44 LUCAS FOX / REAL ESTATE MARKET / COSTA BRAVA TOTAL VALUE OF SALES TRANSACTIONS GIRONA PROVINCE ( 000 ) Source: Spanish Department of Development 375,861 Q (PEAK) % NEW PROPERTIES 23,758 Q ,916 Q % 658,165 Q (PEAK) % RESALE PROPERTIES 279,259 Q ,269 Q % The figures for 2017 are provisional and may be subject to change.
45 45 LUCAS FOX / REAL ESTATE MARKET / COSTA BRAVA PRIME MARKET VOLUME OF SALES TRANSACTIONS (OVER 900,000) GIRONA PROVINCE AND SPAIN Source: Spanish Department of Development AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista FIGUERES PALAMÓS GIRONA PROVINCE % 2,273 Q (PEAK) 1,132 Q , % 6.41% 3,017 Q (PEAK) 1,910 Q , % 13.36% GIRONA LLORET DE MAR 3,071 Q (PEAK) % 3,039 Q (PEAK) % SPAIN 1,843 2, % 1,611 Q , % 1,840 Q , %
46 MARBELLA- COSTA DEL SOL After the shock impact that Brexit had on the Marbella Market last year, surprisingly sales have been strong during the first half of Whilst it is true that there are fewer UK buyers, the market seems to be have been more than made up for by continued demand from other nationalities such as Scandinavians, Belgians, Dutch, Middle Eastern and increasingly Spanish buyers. There has also been a big increase in the number of New Development projects on the market and these continue to be the most popular choice for buyers who are increasingly focused on quality, design and Energy efficiency. STEPHEN LAHIRI MARKET OVERVIEW Partner Lucas Fox Marbella SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
47 47 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL LUCAS FOX MARBELLA - COSTA DEL SOL VOLUME OF SALES TRANSACTIONS Source: Lucas Fox sales data LUCAS FOX MARBELLA - COSTA DEL SOL BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data 20% % Canada / USA Scandinavia 80% LUCAS FOX MARBELLA - COSTA DEL SOL VALUE OF SALES TRANSACTIONS Source: Lucas Fox sales data 20% % Primary Residence Secondary Residence 80%
48 48 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL LUCASFOX.COM MARBELLA - COSTA DEL SOL WEBSITE INTEREST Source: Lucas Fox website data Spain 26% 30% UK / Ireland Canada / USA Italy Russia 5% Belgium 2% 3% 3% 4% 7% 20% Denmark Other Europe Other
49 49 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL VOLUME OF SALES TRANSACTIONS MÁLAGA PROVINCE AND SPAIN Source: National Institute of Statistics MÁLAGA PROVINCE SPAIN 10.95% 13.15% 13,686 15, , , % % 4,137 JANUARY 2007 (PEAK) 2,826 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE ,531 AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
50 50 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL TOTAL VALUE OF SALES TRANSACTIONS MÁLAGA PROVINCE ( 000 ) Source: Spanish Department of Development 1,027,133 Q (PEAK) % NEW PROPERTIES 82,784 Q ,254 Q % 1,186,917 Q (PEAK) -5.43% RESALE PROPERTIES 926,186 Q ,122,478 Q % The figures for 2017 are provisional and may be subject to change.
51 51 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL PRIME MARKET VOLUME OF SALES TRANSACTIONS (OVER 900,000) MÁLAGA PROVINCE AND SPAIN Source: Spanish Department of Development AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista ESTEPONA MARBELLA MÁLAGA PROVINCE % 1,893 2,733 Q (PEAK) Q (PEAK) -4.81% -6.51% 1,802 2,555 1,648 2, % 4.12% Q Q AVERAGE RENTAL PRICES ( /m 2 ) Source: Fotocasa SPAIN 1,843 2, % ESTEPONA MARBELLA 16.26% 18.32% Q Q Q Q1 2017
52 52 LUCAS FOX / REAL ESTATE MARKET / MARBELLA-COSTA DEL SOL PASSENGER ARRIVALS AT MÁLAGA - COSTA DEL SOL AIRPORT Source: Aena 13.71% 7,383,000 8,394,937
53 IBIZA The French, Germans and Dutch continue to be the dominant nationalities amongst enquiries on Ibiza as British interest declines following Brexit. The Germans and the Dutch tend to be focused more on investments whilst the French are currently looking for second homes. New Developments continue to be the most popular type of product with all nationalities. ROD JAMIESON Managing Director & Partner Lucas Fox Barcelona & Madrid MARKET OVERVIEW SPAIN BARCELONA MARESME SITGES MADRID VALENCIA COSTA BRAVA MARBELLA-COSTA DEL SOL IBIZA
54 54 LUCAS FOX / REAL ESTATE MARKET / IBIZA LUCAS FOX IBIZA BUYER COUNTRY OF ORIGIN & MOTIVATION FOR PURCHASE Source: Lucas Fox sales data Europe Secondary Residence 100% 100% LUCASFOX.COM IBIZA WEBSITE INTEREST Source: Lucas Fox website data UK / Ireland 18% 26% Spain Netherlands 9% France Canada / USA 3% Italy 4% 5% 6% 8% 21% Russia Other Europe Other
55 55 LUCAS FOX / REAL ESTATE MARKET / IBIZA VOLUME OF SALES TRANSACTIONS BALEARIC ISLANDS AND SPAIN Source: National Institute of Statistics BALEARIC ISLANDS SPAIN 20.13% 13.15% 6,899 8, , , % % 2,595 JANUARY 2007 (PEAK) 1,515 JUNE ,713 JANUARY 2007 (PEAK) 44,135 JUNE ,381 AVERAGE NUMBER OF TRANSACTIONS PER MONTH 39,279 AVERAGE NUMBER OF TRANSACTIONS PER MONTH The figures for 2017 are provisional and may be subject to change.
56 56 LUCAS FOX / REAL ESTATE MARKET / IBIZA TOTAL VALUE OF SALES TRANSACTIONS BALEARIC ISLANDS ( 000 ) Source: Spanish Department of Development 337,062 Q (PEAK) % NEW PROPERTIES 77,784 Q ,348 Q % 872,302 Q (PEAK) -8.36% RESALE PROPERTIES 686,548 Q ,347 Q % The figures for 2017 are provisional and may be subject to change.
57 57 LUCAS FOX / REAL ESTATE MARKET / IBIZA PRIME MARKET VOLUME OF SALES TRANSACTIONS (OVER 900,000) BALEARIC ISLANDS AND SPAIN Source: Spanish Department of Development AVERAGE PROPERTY SALES PRICES ( /m 2 ) Source: Idealista EIVISSA 3,874 Q % BALEARIC ISLANDS % 3,037 Q (PEAK) 4, % AVERAGE RENTAL PRICES ( /m 2 ) Source: Fotocasa SPAIN 1,843 2, % EIVISSA 16.26% Q Q1 2017
58 58 LUCAS FOX / REAL ESTATE MARKET / IBIZA PASSENGER ARRIVALS AT IBIZA AIRPORT Source: Aena 10.45% 2,629,533 2,904,401
59 BARCELONA COSTA BRAVA GIRONA IBIZA MADRID MALLORCA MARBELLA - COSTA DEL SOL MARESME SEVILLE SITGES VALENCIA ANDORRA PORTUGAL LUCAS FOX HEAD OFFICE Pau Claris, 108, Principal Barcelona, Spain CIF: B T (+34) F (+34) E info@lucasfox.com
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