Property transactions in Spain on the rise

The number if property transactions which took place in Spain last year rose by 13.6 per cent, new figures show.

The data, published by Spain’s Centrals Statistics Unit last Friday, reveals that a total of 403,866 property transactions were completed last year – with house sales up in all of the country’s 17 regions.

The regions with the most significant increases were the Balearic Islands (up by 31 per cent), Catalunya (20 per cent), Extremadura (18.6 per cent) and Asturias (16 per cent).

In terms of the busiest markets, measured by the number of property transactions which took place per 100,000 inhabitants, the leading regions were the Balearics (1,521) and the Comunidad Valencia (1,478). Both regions are ones which are popular with overseas buyers.

Since 2014, the number of property transactions completed in Spain has risen by 26.7 per cent.

Separate data, also released last week, showed that property prices are also rising in the country. The latest report published by property valuation firm Tinsa, showed that the average market price per square metre of property was almost 1 per cent higher than it had been a year earlier.

The average price of a Spanish property, per square metre, is currently 1,361 Euros.

This was the eleventh time in the past 12 months, that the Tinsa report has shown a year-on-year increase in property prices.

Article published 14th February 2017