Spanish Real Estate Market Analysis Q1 2018
30 июля 2018 года
The Spanish property market has continued to grow at the start of 2018 with almost 90,000 properties exchanging hands in the first two months of the year, according to the National Institute of Statistics, an increase of 20% over the same period in 2017. The number of new homes in the first two months of 2018 showed a similar growth, with almost 16,000 new homes being sold across Spain.
The average price of a property sold by agencies in the first quarter of 2018 increased by 18%, averaging at €924,000, confirming that the Spanish prime property market is recovering well. Due to the Catalan political situation, the number of sales transactions completed in the first quarter of 2018 decreased slightly compared to the same period in 2017 but the total value of sales transactions showed an increase of 5%. The rhythm of sales has now returned to pre October levels and it is expected that agencies half yearly results will once again show steady growth.
According to official data, in 2017 just over 61,000 homes were sold to foreigners, representing just over 13% of total sales, a figure not far off the peak of 2007 when around 65,300 homes were sold to foreigners, then representing 8.3% of the market.