Property Purchase Soared Up 40% in February

15/04/2014 – Expansion

According to the General Council of Notaries, property sales rebounded in February, showing an appreciation of 39.8% in year-on-year terms, whereas prices climbed up by 0.6%.

The increase in transactions follows the 59.2% rise in January when the price climbed by 8.9%.

Thus, in February, there have been conducted 26.602 transactions. The number indicates stabilization in monthly sales volume.

Considering dwelling types, houses went up by 37.3% and non-subsidized homes by 38.5%. New houses represented rise of 24.1%, while pre-owned units appreciated by 41,4%.

When it comes to price, in February an average price showed 1.189 euros per square meter, that is 0.6 better development in year-on-year terms.

In case of flats the price rose by 0.4%. Non-subsidized houses stagnated.

Talking about new homes, the price per square meter declined by 0.7% down to 1.575 €/sqm, while used houses went down by 0.2% to 1.261 €/sqm.

Moreover, the statistics put stress on rise in the mortgage market development where new mortgage granting for house purchase shot up by 35.9%, although average amount of those shrank by 6.8% to €104.157.

Likewise, mortgage-backed home purchase represented 34%.

February welcomed 9.276 newly established companies, that means a 5.2% appreciation in year-on-year terms. Average capital represented 15.987 euros, that is by 5,9% less.



Original article: Expansión

Translation: AURA REE