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Real estate activity review in Spain: 15% growth in 2017 vs 2016

02 May
2018

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Real estate activity review in Spain – Full year 2017 review

The college of the register of property in Spain, “Colegio de Registradores de la Propiedad”,  just released its yearly report analysing the market activity for 2017

 

How many properties were sold in Spain in 2017?

  • 464.223 properties, +60.480 vs 2016, +15% vs 2016)
  • 80.765 were newbuild properties (i.e. 17% of all the transactions), +8.178 vs 2016, +11.3%
  • 383.458 were second-hand properties, +52.302 vs 2016, +15.8%
  • This is the highest yearly number since 2008.

 

In which Spanish regions are people purchasing properties in 2017? 

  • Andalusia had 19% of all the Spanish real estate transactions i.e. 88.657 transactions
  • Catalonia had 17% of all the Spanish real estate transactions i.e. 77.830 transactions
  • The community of Madrid had 15% of all the Spanish real estate transactions i.e. 69.966 transactions
  • The Valencian Community had 15% of all the Spanish real estate transactions i.e. 68.167 transactions

In which Spanish regions are people purchasing newbuild properties in 2017? 

  • 16.284 new build properties were bought in Andalusia
  • 14.967  new build properties were bought in Catalonia
  • 10.193  new build properties were bought in The community of Madrid
  • 9.381  new build properties were bought in The Valencian Community

 

In which Spanish regions do you have the highest proportion of newbuild properties vs existing properties in 2017? 

  • Galicia had 24% of all its property transactions as newbuild, i.e. 3.512 transactions
  • Asturias had 22% of all its property transactions as newbuild, i.e. 1.740 transactions
  • The community of Madrid had 21% of all its property transactions as newbuild, i.e. 14.967 transactions
  • Castilla y Leon had 21% of all its property transactions as newbuild, i.e. 3.862 transactions
  • Navarra had 21% of all its property transactions as newbuild, i.e. 1.052 transactions
  • Gran Canarias had 20% of all its property transactions as newbuild, i.e. 4.555 transactions

 

 

Average surface of apartments sold in 2017

  • 21% of the properties sold last year had a surface of less than 60 sq. m.
  • 29% of the properties sold last year had a surface between 60 sq. m and 80 sq. m.
  • 50% of the properties sold last year had more than 80 sq. m.

 

Average surface of the properties (villa + apartments) sold in 2017

  • 97.8 sq. m.

 

Persons or companies?

  • 87% of properties sold were sold to persons and 13% sold to companies

 

Financing

  • 310.640 properties got a mortgage, +11% vs 2016, which means that 33% of properties had no need of financing and 67% had a mortgage on it
  • Top 3 regions are: Madrid with 57k, Barcelona with 38k and Malaga with 17k mortgages.
  • 21.000 mortgages were issued for foreigners, which represent a total of 7% of all the mortgages issued.
  • Average mortgage amount issued to a foreigner: 128.453 EUR
  • 38% of mortgages were issued with fixed rates and 62% with variables rates
  • Average mortgage rate in Spain in December 2017 was 2.1%. (2.29% on average during 2017) Always find this rate updated in our table “Mortgages and returns on the Spanish real estate
  • Average mortgage length in Spain in 2017: 23 years and 4 months.
  • Average monthly mortgage cost in  2017: 544€ (29% of monthly salary)

 

Mortgage sizes by Spanish region

Mortgages by foreign nationalities

 

 

Average mortgage per sq meter and per Spanish Region?

 

Please note that it is not especially the amount that banks would lend you in your region, it is only an indication of the levels that occurred in 2017. Some people would prefer not to take a lot of mortgages and so it doesn’t mean you can’t get a bigger mortgage per square meter, you should understand that as a figure on the safeness of the financial system while those new mortgages are issued, should the mortgage holders default.

 

Find all our resources to learn more about the Spanish property market  here:

Find the report in Spanish here

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full team of HTBIS here

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