Notaries report Spanish property sales up 8.6%, and prices up 2.4%

spanish home sales and house prices

Index July 2007 = 100. Sales (left) and house prices (right)

The latest report from the Association of Spanish Notaries reveals that home sales were up by 8.6% year on year in September, and house prices up 2.4%.

Sales in September totalled 40,094, a year-on-year increase of 8.6%. By property type, apartment sales went up by 7.7% and their prices by 8.9%. Most apartments were resales since new-build sales fell by 1.9%. Detached home sales saw an annual increase of 12%.

The average square metre price of properties bought in September was €1,331, 2.4% higher than the same month last year. Detached homes went up by 1.4% and apartments by 3.8%. The average price of resale apartments was €1,493, while new builds came in at €1,939 a square metre (up 11.3% in the year).

The number of new mortgage loans in September came to 23,659, very slightly more than a year earlier. The average loan was €163,330, 4.6% higher than 12 months earlier. The number of mortgage loans to buy a home went up by 8.2% while those for other properties rose by 1.4%.

Loan amounts for homes averaged €130,300, 1.8% higher than last September. Mortgages for other properties reached an average of €246,687, an increase of 4%. The number of mortgage loans for construction went up by 6% while their average amount reached €472,028, up 20.1% in the year. The total number of properties bought using mortgage finance was 41.1% with the average loan-to-value at 75.7%.

About SPI News Feed

SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

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