Spanish property sales up 11.1%

abril

  • Number of home sales: annual growth of 11.1%.
  • Price per square meter of housing: increase of 0.7%.
  • Mortgage loans: 12.1% annual retreat.
  • Average amount of mortgages: contraction of 4.0% yoy.
  • Number of incorporated companies: annual contraction of 6.8%.

The price per square meter of housing accumulated a fall of 35.5 percent from its peak in July 2007

Purchase of urban property

The number of Spanish residential property sales in April posted a growth of 11.1 percent. This mean there were a total of 30,048 sales in front of a notary. Most of the increase in transactions came from resales, with apartments up 10.9 percent, and single-family homes, up 26 percent. Sales of ‘new’ apartments continue to suffer with a decrease of 8.4 percent. It is believed that the rebound in property sales in recent months could be explained, in part, by normalizing the figures after the end of the tax credit for home purchases at the end of 2012, but also reflects a stabilization of monthly sales.

The average price per square meter of Spanish property sold was 1,216 euros per square meter, representing a slight increase of 0.7 percent.

Mortgage loans

Mortgage loans for the purchase of properties also are showing positive signs with an increase 24.8 percent in April, this is in line with the expansion of housing purchases. However, it should be noted that the loan to value decreased by 4.4 percent to 107,486 euros.

In conclusion, the market is showing positive signs and it appears that the market is still dominated by cash buyers.

Regards
Andrew Bellés

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