Posted on June 23, 2016 in Property
The latest data from the Ministry of Public Works published on the Government website, La Moncloa, indicates that the average price per square metre of urban land in Spain increased in the first quarter of 2016 by 5.3% year-on-year (compared to the first quarter of 2015), to stand at 157.7 euros, while quarter-on-quarter, the average price per square metre rose 3.9%.
In the municipalities with populations of over 50,000, the average price per square metre increased by 1.4% year-on-year to stand at 308.5 euros per square metre. Within this group, the highest average prices were those in the provinces of Madrid (508.9 euros/m2), Barcelona (397.0 euros) and the Balearic Islands (330.1 euros), while the lowest average prices were recorded in the provinces of Cantabria (105.5 euros/m2), Tarragona (111.8 euros) and Asturias (116.7 euros).
The number of urban land transactions carried out in the first quarter of 2016 reached a total of 3,716, which represents an increase of 7.2% over those made in the first quarter of 2015 (3,465), but is 12.4% less than the number of transactions carried out in the fourth quarter of 2015 (4,242).
According to the Ministry’s data, a total of 5.4 million square metres of urban land was transmitted in the first quarter of 2016, amounting to a value of 724.2 million euros. Compared with the first quarter of 2015, this represents a year-on-year increase of 33.8% in the surface area transmitted and an increase in the value of the same of 45.6%.
Transactions are distributed, according to the size of the municipality, as follows: municipalities of less than 1,000 inhabitants registered 284 transactions (-2.1% y-o-y); municipalities with between 1,000 and 5,000 inhabitants accounted for 770 of the transactions (-6.0% y-o-y); municipalities with between 5,000 and 10,000 inhabitants registered 625 transactions (-11.1% y-o-y); in the municipalities with a population of between 10,000 and 50,000, transactions amounted to a total of 1,252 (+18.4% y-o-y), and finally, in the municipalities with populations of over 50,000, the number of transactions registered on urban land was 785, which represents an increase of 31.7% over those made in the first quarter of the previous year.