Not normally considered the best time for sellers in either the Spanish property market, 2017 really did get off to a flying start with increases in both home sales and prices in January.
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According to the latest data released by Spanish property registrars, January saw a total of 33,670 property transactions witnessed by Spanish notaries, representing a 16.1% increase on January of the previous year and the best January figures since 2013. This continues an upward trend in the Spanish property market with each of the last twelve months witnessing year-on-year increases.
The price of houses changing hands in January increased also, up 1.8% to an average of 1,355 euros per square metre, again continuing an upward trend with seven out of the last eight months posting year-on-year increases.
The number of new mortgages finalised in January also saw an increase of 27% with a total of 15,624 notarised during the month. Average loan capital also increased to 130,019 euros.
Whilst Spanish property market data sources rarely agree exactly on evolving house price and property sales figures, currently whichever source you choose to look at, the picture is that of a sustained recovery in both sales transactions and mortgage lending with rising property prices, particularly in the major cities and coastal resorts such as the Costa del Sol.