Property sales in Spain rose for an eighth consecutive month in December 2017, new figures show.
The latest data released by Spanish Notaries revealed that the number of property transactions which took place in December 2017 was up by 4.5 per cent on the same month a year earlier.
Newly-built apartments and flats were the biggest property sales growth market, with 9.5 per cent more new apartments sold in December 2017 than had been a year earlier. However, sales of previously used apartments rose by just 3.8 per cent.
While the data continues to support the evidence that the Spanish property market is recovering, it should be noted that the December increase was by far the smallest rise in property sales recorded in the last eight months. The previous seven months had all recorded double-digit growth from the corresponding month of 2016, with that increase growing by as much as 20 per cent in June.
Yet throughout 2017, property prices continued to solidify and the Notaries data reveals that the average national property price ended 2017 1.8 per cent higher than it had started the year. According to their data, the average cost of a property in Spain works out at 1,383 euros per square metre.
According to separate figures released by valuation firm Tinsa last week, property prices in January 2018 were 3.6 per cent higher than they were in January 2017. According to the Tinsa data, it is the country’s larger cities and provincial capitals which are fuelling this rise, with prices in major cities up 5.1 per cent year-on-year.
Article published 13th February 2018