9 January 2018 – Eje Prime
The positive steps that the housing sector in Spain took in 2017 are continuing. That is according to data from the General Council of Notaries relating to November 2017, when 46,722 transactions were signed, up by 10.1% compared to the same period in 2016.
Nevertheless, the residential sector was hit by a slight decrease in value, with a decrease of 0.9% in house prices, taking the average price per square metre of properties acquired in Spain during November to €1,288/m2. According to the College of Notaries, this decrease in house prices was driven by a reduction in the price of family homes, which suffered a decrease of 1.3%, and flats, whose prices fell by 0.1%.
In terms of the different types of homes, private flats saw a YoY volume increase of 8.9%, with a notable expansion in the number of new build homes (9.5% more) and also in the number of second-hand homes (8.9% more). Despite that, the property segment that grew by the most was family homes, with an increase of 13.7% with respect to November 2016.
Meanwhile, the number of mortgages also grew during the penultimate month of 2017. Loans to buy homes increased by 0.6%, with 28,834 mortgage applications and an average mortgage loan of €169,163.
Original story: Eje Prime
Translation: Carmel Drake