Ministry of Development: Average Urban Land Prices Rose by 7.8% in Q3

15 December 2017 – El Mundo

The average price of urban land per square metre rose by 7.8% in YoY terms during the third quarter of the year, to €162/m2, whereas it decreased by 2.6% with respect to the previous quarter, according to Land Price Statistics from the Ministry of Development.

In towns with more than 50,000 inhabitants, the average price of land per square metre rose by 5.6% in YoY terms, to reach €287.5/m2

With regards to those towns with more than 50,000 inhabitants, the highest average prices were recorded in the provinces of Madrid (€485.7/m2), Barcelona (€447.6/m2) and the Balearic Islands (€375.1), whilst the lowest prices were registered in Huesca (€48.4/m2), Cádiz (€115.3/m2) and León (€120/m2).

Similarly, the number of transactions completed during the third quarter amounted to 4,545, down by 24.2% compared to the number carried out during the second quarter of the year (5,998) and 2.4% fewer than the number performed during the third quarter of 2016, when 4,656 plots were sold.

By size, in towns with fewer than 1,000 inhabitants, 366 transactions were recorded, up by 3.4% compared to the same quarter in 2016; and in towns with between 1,000 and 5,000 inhabitants, 857 plots were sold, up by 6.1% YoY.

In towns with between 5,000 and 10,000 inhabitants, 763 transactions were recorded (up by 14.2% YoY) and in those towns with a population of between 10,000 and 50,000 inhabitants, 1,591 transactions were signed (+0.8% YoY).

Finally, in those towns with a population of more than 50,000 inhabitants, the number of plots sold in the third quarter of 2017 was 968, up by 5.7% compared to the third quarter last year.

17.8% more space sold

The statistics from the Ministry of Development also show that the surface area sold until September amounted to 6.3 million m2, worth €765.1 million.

With respect to the third quarter of 2016, the YoY variations represent a 17.8% increase in terms of the surface area sold and an 18% decrease in the value of those plots.

Original story: El Mundo

Translation: Carmel Drake

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