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Spanish Home Sales Climbed 8.6% in 2015, Say Notaries

Posted on by peteradmin247

According to figures published this week by Spain’s General Council of Notaries, a total of 401,236 property transactions were carried out in 2015, representing an increase of 8.6% over the figures for 2014. The increase in transactions is made up of sales of apartments (+7.8%), single family dwellings (+11.9%) and other real estate transactions (+4.6%).

There was also an increase in the average price of the homes sold in Spain last year, which stood at 1,277 euros/m2, equivalent to an increase of 1.9% over the previous year.

The Notaries explained that this price increase is due to both the increase in the price per square metre of apartment type housing (+2.6% year-on-year) and also the single family homes (+1.0% year-on-year). With regard to apartments, the price per square metre of second-hand apartments stood at 1,381 euros (+2.4% year-on-year), while the price of new apartments stood at 1,741 euros/m2 (+7.1% year-on-year).

The latest figures from the Notaries also show that, during 2015, increases were registered in both the number of new mortgage loans and in the average amount of these loans. Specifically, the number of new mortgage loans increased by 11.6% year-on-year, while the average value of these loans amounted to 154,906 euros, representing growth of 12.2% over the previous year.

The number of new mortgage loans destined for the purchase of a home increased by 23.2% year-on-year, while the average amount of these loans stood at 126,796 euros, representing an increase of 7.8% over a year earlier. Moreover, the percentage of home purchases which were financed through a mortgage loan last year increased to 42.4%, and in those cases, the average loan amounted to 76.6% of the property value.

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