Spain records increases in prices and sales

The number of property transactions and sales prices increased throughout Spain in the third quarter of last year.

The latest Notary data shows that average property prices in Spain were up by 6.6 per cent in the quarter, while the number of completed sales was up by 13.5 per cent.

Sales activity increased in all of Spain’s 17 regions, with the largest year-on-year rises recorded in Castilla-La Mancha, La Rioja and Cantabria. The increases in all these regions were between 23 and 26 per cent. In total, 118,951 properties were sold in the year to the end of the third quarter of 2017.

The average price of a property in Spain now stands at 1,533 Euros per square metre. The biggest price increases recorded in the year to the end of Q3 2017 were in the Canary Islands (up by 17.9 per cent), Balearic Islands (10.7 per cent) and Catalunya (10.2 per cent).

Only three Spanish regions saw prices fall during this period. Interestingly, one of these regions was La Rioja, which had enjoyed one of the biggest increases in sales activity. The other two regions to record a decline in prices were Galicia and Aragon.

Article published 18th January 2018