The recovery of Spain’s housing market shows no sign of slowing following news that both the number of property sales transactions and home prices increased during February 2017.
According to the latest data from Spanish property registrars, when compared with the corresponding month in 2016, the number of home sales witnessed by notaries in February rose 9.9% reaching a total 38,176 transactions, a continuation of an upward trend in Spain’s housing market which has seen increases for the past eight consecutive months.
Further encouraging statistics released by notaries in February reveals average Spanish home prices rose 2.5% compared to the previous year with both apartments and individual family houses witnessing increases.
Unsurprisingly mortgage lending on Spanish property purchases also grew in line with home sales and prices. The number of new residential loans increased 2.5% totalling 16,337 granted in February with the average loan value increasing to 125,445€.
Despite undoubtedly masking regional variations across Spain with many less popular areas yet to catch up with the major cities and Mediterranean areas such as Alicante and Málaga, once again these figures demonstrate the continuation of a sustainable market recovery which began in 2014.