The General Council of
Notaries has released its latest set of statistics suggesting that
Spanish property sales increased by nearly 14% compared to last year,
totalling just over 17,000 sales. In addition, and contradicting
figures released by other organisations, property prices fell by an
average of just over 8.5%.
They stated that “ The
upturn in housing sales in recent months is explained, in part, by
the normalisation in the number of transactions following the end of
the income tax deductions for home purchases implemented at the end
of 2012, but also reflects a stabilisation in the monthly sales.”
Specifically, the numbers of
apartments sold increased by 14.2% compared to the same period in
2013, though this figure is derived from second hand apartment sales
increasing by over 22% while new apartment sales fell by 17%. Sales
of family homes rose by 12.7%.
The average price per square
metre of the homes purchased in August dropped by 8.6% to 1,111
euros. The drop in square metre price is driven by the fall in family
home prices which fell by nearly 26%.
There was also a reported
improvement in the mortgage marketing, suggesting an increase of
31.5% in the number of mortgages granted for property purchases,
while at the same time the average value of the loans fell to 103,630
- a drop of 8.9%. This increased access to finance has resulted in an
increase of mortgage-funded purchases (38.8% in August), with the
average mortgage amount accounting for nearly 74% of the price of the
property.
property-quest-international.com
property-quest-international.com
