Posted on May 20, 2016 in Property

Home sales transactions carried out in Spain in March, according to statistics prepared by the General Council of Notaries, registered an increase of 5.8% compared to the same month of 2015, to a total of 38,674 transactions, although in seasonally adjusted terms, this increase is reduced to 3.6%.

The year-on-year increase in home sales was due to the rise in sales of apartments (+4%), as well as the increase in sales of single family homes (+13%) and other real estate sales (+1.2%).

Sales of free price apartments experienced an increase of 5.2% over March 2015, and within this segment, sales of second hand apartments increased by 8.5%, while sales of new apartments registered a decline of 18.5%.

According to the Notaries’ data, the average price per square metre of the homes purchased in March stood at 1,261 euros, reflecting an increase of 1.9% year-on-year. This increase was due to both the price of single family homes rising by 7%, as well as apartment prices rising by 1.2%. With regard to the free price apartments, the price per square metre of the second hand apartments stood at 1,361 euros (+1.1%), while the price of new apartments stood at 1,678 euros per square metre (+10.7%).

The mortgage sector also registered an increase in the number of loans contracted in March, with the number of loans for the purchase of a home rising by 17.1% year-on-year. Moreover, the amount of capital loaned for these home mortgages rose by 2.7%, compared to the same month of last year,  to reach an average loan value of 125,265 euros.

Finally, El Economista reported that the percentage of homes purchased with mortgage financing stood at 46.7% in March, and in those purchases, the average loan amount stood at 78.7% of the property value.

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