Property prices in Spain rose by 1.8% and the number of transactions grew by +4.5% in December
The Statistic office of the Spanish notaries has just published the numbers for the month of December, here is our quick analysis of the main information:
- +4.5% transactions growth to 48.956
- +3.8% for existing apartments (32.654 units)
- +9.5% for newbuild apartments (4.167 units)
- +8% for houses (10.105 units)
- €1.383 per square meter on average, with an increase of 1.8% (vs one year ago)
- +5.8 % for houses (€.1.106)
- +0.6% for apartments (€.1.526)
- €1.492 per square meter for existing apartments, with an increase of 0.9%
- €2.004 per square meter for newbuild apartments, with a decrease of 4.2%
- The number of mortgages issued for purchasing properties was 19.848 or -0.2%. Interesting to note, as in the past, that means that more than 50% of the buyers are purchasing their properties WITHOUT mortgage! It doesn’t look like excessive.
- Average mortgage size of €138.694 for housing. This number isn’t excessive either. As you can see on our updated table regarding Real estate returns and cost of financing, the loan to value (or LTV) of the mortgage in Spain is about 65% in September 2017. More on Mortgage conditions in our detailed paper: Your Spanish Mortgage: How to apply? How to get the best rates?
If you want to compare Spanish prices vs European ones, have a look at our earlier article: What return have you made on your Spanish Property investment in 2017? And 2018?