Ministry of Development: Urban Land Prices Rose By 11.7% In Q2

25 September 2017 – Eje Prime

The average price of urban land is continuing to soar quarter after quarter. The average price rose by 11.7% in cities with more than 50,000 inhabitants during the second quarter of 2017, according to statistics from the Ministry of Development. This increase means that the price of such land now stands at €326.3, the highest level since Q3 2015 (€331.1).

At the national level, average urban land prices have risen by 1.8%, to €166.4. With respect to the first quarter, the QoQ variation was slightly negative, with a decrease of 0.7%.

The highest average prices were recorded in the provinces of Granada (€510/m2); Barcelona (€491.5/m2) and the Balearic Islands (€321.5/m2). The lowest prices were observed in the provinces of Albacete, Ourense and Tarragona (€60/m2, €117.6/m2 and €130.6/m2, respectively).

Meanwhile, the number of transactions undertaken during the second quarter of 2017 amounted to 5,998, up by 36.3% compared to Q1 2017, when they amounted to 4,401, and up by 35.2% compared to Q2 2016, when 4,435 plots were sold.

In total, the total surface area sold during the second quarter of 2017 amounted to 7.2 million m2, for a total value of €1,073.8 million. With respect to the second quarter of 2016, the YoY variations represent 28.6% more in terms of surface area sold and 43.0% less in terms of their value.

Original story: Eje Prime

Translation: Carmel Drake