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Ministry of Development: Urban Land Prices Fell by 2.6% in Q1 2018

15 June 2018 – Eje Prime

Land is getting cheaper in Spain. The price per square metre of urban land decreased by 2.6% during the first quarter of the year, to €163.1/m2. Nevertheless, land prices rose by 6.6% with respect to December, according to data from the Ministry of Development.

The Land Price Statistics prepared by the public body also indicate that the volume of land sold between January and March 2018 amounted to 7.8 million m2, with a value of €770.6 million.

With respect to the same period a year earlier, the volume of urban land transferred was 36.7% higher and its value had risen by 12.9%. The total number of transactions undertaken during the first three months of the year was 4,867, up by 10.6% compared to a year earlier, when 4,401 plots were sold, and down by 16.7% compared to the number of operations completed between October and December 2017.

Original story: Eje Prime

Translation: Carmel Drake