20 November 2017 – Eje Prime
House sales are continuing to soar. The volume of residential transactions rose by 8.6% in September with respect to the same month in 2016 (and by 12.2% in the series corrected for seasonality) to 40,094 operations, according to data from the General Council of Notaries.
By type of home, the sale of apartments registered a YoY increase of 7.7% (up by 11.3% in the series corrected for seasonality) and the volume of private home sales rose by 8.%. This increase in the number of transactions involving private homes was due, exclusively, to the expansion of second-hand home sales (10%), given that the sale of new build homes decreased by 1.9% YoY. Meanwhile, the sale of family homes rose by 12% YoY.
In terms of average prices, the cost per square metre of the homes purchased in September 2017 amounted to €1,331/m2, whereby reflecting a YoY price increase of 2.4%. According to the notaries, this increase in the price per square metre of homes was due to both an increase in the price of family homes (1.4%) and an increase in the price of apartments (3.8%). Meanwhile, the price per square metre of private homes rose by 4%.
Original story: Eje Prime
Translation: Carmel Drake