NOTARIES: Market improves on all fronts in 2016

Home sales index. Jul 2007 = 100. Source. Association of Spanish Notaries

The full-year figures from the notaries confirm the Spanish property market improved on all fronts in 2016, with sales, prices, and mortgage lending increasing together for the first time in years.

The latest report from the notaries on the Spanish property market in 2016 reveal that:

  • Sales rose 13.5% to 458,781 (14.8% seasonally adjusted)
  • Resale flat transactions rose 13.3%, whilst new home sales fell by 7.6%
  • House prices rose 2.4% to 1,309 €/m2
  • New mortgage lending rose 7.1%
  • The average new loan value rose 5.1% to €163,253
  • The percentage of home purchases financed with a mortgage rose to 44.5%, with an average LTV of 77.2%

“The Spanish property market consolidated the growth trend observed since 2014,” explains the report. “For the first few months of 2017 it is expected that the market numbers will continue in a similar fashion.”

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